Don’t Make This Silly Mistake With Crypto
Andy Snyder|April 8, 2021
You know we don’t like to toot our own horn.
So when we say this may be the most important thing you ever read about investing in cryptocurrency… please understand that we’re not being hyperbolic.
Something big happened in the crypto world this week.
It’s something that got very few headlines. But it represents a monumental shift in the hottest asset class on the planet.
Jim Cramer came out and said Bitcoin is better than gold.
Big whoop, right?
Who cares what a loudmouthed, made-for-TV pundit says?
“But gold let me down,” he said in a YouTube interview. “Now I say 5% of gold, 5% of Bitcoin.”
It’s a good thought. We agree about slicing things up. In fact, we double that allocation.
But here’s the thing. It’s where folks will get it wrong.
There’s a big difference between gold, Bitcoin and almost all other cryptos.
The allocation in our Modern Asset Portfolio doesn’t call for a big stake in Bitcoin. It calls for a 10% stake in crypto.
There’s a big difference.
We fear far too many folks will hear Cramer’s bullish call on Bitcoin and miss the critical nuance.
That’s the problem with sound-bite media. It overlooks the details.
And that’ll kill ya.
Jim Cramer, like so many other pundits, equates Bitcoin to cash.
“I own Bitcoin. I’ve owned it for some time,” he recently said. “It’s an alternative to a cash position, where you make absolutely nothing. I think it’s almost irresponsible not to include.”
Again, it’s a fair thought… but it’s wrong.
But we get why the world’s most famous money screamer would say such a thing. Bitcoin has made him a TON of money.
Late last year, he put $500,000 into Bitcoin.
If it were truly a cash equivalent, he’d now have about $500,001.
But Bitcoin isn’t cash… and Cramer made out like a bandit. By our math, his stake is now worth $2.4 million.
If cash appreciates anywhere near that fast, we’re all in trouble.
And, of course, if something can rise that quickly… it can fall just as fast. That’s not so true with gold and certainly not the case with cash.
Equating the digital currency to either is just plain wrong.
Then why do we say to allocate 10% of your portfolio to crypto?
Well, see above… $500K just turned into $2.4 million!
It’s the hottest asset class on the planet.
It’s irresponsible not to own it.
But the story isn’t about replacing the dollar or finding an alternative to gold. No, the bull case here (and it’s the biggest bull case we’ve ever seen) is the massive amount of money flowing into the space from behemoth investors… and, bigger yet, the technology behind it all.
A Dollar for the Future
Take a token that we’ve been shouting about from the mountaintops.
It’s backed by companies like Microsoft, Dell and even major carmakers.
Cities are interested in the technology. Hospitals are getting excited. Even the super-hot world of electric vehicles is piling in.
It’s not because this token – which trades for less than $2 – is a replacement for the greenback.
And it has nothing to do with why we like gold.
But it has everything to do with a new type of technology that is spreading like wildfire and promising to upend so much of what we know about investing and technology.
It’s part of a huge wave of investing dollars that is about to upend the world of Wall Street.
Don’t think of your allocation to crypto as an alternative to gold or cash.
That’s silly and uninformed.
Think of it as exposure to the fastest-growing asset class on the planet.
And, in the words of Jim Cramer, missing out on that action is indeed “irresponsible.”
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P.S. Get in on this coin now. Thanks to its many partnerships and incredible technology, it is outpacing Bitcoin by more than 4X this year. It’s moving fast. Details on everything you need to know to get started are here.
Andy Snyder is the founder of Manward Press, the nation’s premier source of unfiltered, unorthodox views on money and what it means for a free society. An American author, investor and serial entrepreneur, Andy cut his teeth at an esteemed financial firm with nearly $100 billion in assets under management. Andy and his ideas have been featured on Fox News, on countless radio stations, and in numerous print and online outlets. He’s been a keynote speaker and panelist at events all over the world, from four-star ballrooms to Senate hearing rooms. Today, Andy’s dissident thoughts on life, liberty and investing can be found in his popular daily newsletter, Manward Financial Digest.