thecoinrepublic.com
Ether (ETH), as of late, is performing pretty well in the cryptocurrency scene as it broke past the $3,000 mark a couple of days back. CNBC’s Jim Cramer might have seen some potential with it during the cryptocurrency’s infancy days as he now claims to own a lot of it.
Cramer and his Ether
On Tuesday, during a recent installment of CNBC’s “Squawk Box,” the host revealed that he owns the digital money Ether claiming that he owns a lot of it. Cramer mentioned that he initially bought Ether on Time Magazine back when he was just attempting to purchase “some non-fungible token.” The media company was back then auctioning their magazine covers as these were auctioned off via non-fungible tokens.
Cramer can even be heard that joking about the idea of purchasing a house using the said digital currency since it’s up by 130 percent just this week alone, according to Cointelegraph. Aside from owning a lot of Ether, he too invests in Bitcoin (BTC). It can be recalled about a month ago, and he stated that his mortgage was paid off with the help of the proceeds from his Bitcoin investments.
Explaining the surge
Going back to Ether, the Chief Executive Officer of the cryptocurrency exchange platform Binance explained the digital currency’s rise.
Changpeng Zhao said that the demand for the crypto to purchase assets like non-fungible tokens is just one reason why the Ether price is up. Also, he did mention that such “use cases” are on the move as of late, adding that the people need the other coins to lean towards this type of new transaction.
Talking about his company, Fortune noted that the CEO has no plans to take Binance public. Zhao went on to say that his company is making its own money and does not need to raise anymore.