James Joseph Cramer, also known as Jim Cramer among the people in TV and finance sector has recently said that he trusts Ethereum more than Bitcoin at the moment. The main reason why he prefers Ethereum to Bitcoin is the strict Chinese policy on Bitcoin. He feels Ethereum is a much safer option compared to Bitcoin at present.
Who is Jim Cramer?
Jim Cramer is a popular face on American TV. He hosts the financial TV show ” Mad Money ” on CNBC. Along with that, he has been a hedge fund manager in the past. Cramer has also been a part of chat shows like Squawk on the street and The men who built America.
What did Jim Cramer say?
While talking to Katherine Ross, the host of the show, Cramer said that he is much more into Ethereum because Bitcoin is front & center an issue in China and he wants to avoid anything which the People Republic of China doesn’t like.
” If the Chinese government stops the crackdown (on Bitcoin), I will probably go in but I think the Chinese government has probably spoken and said they don’t like Bitcoin. So I am sticking with Ethereum now. “
He said he likes Bitcoin and Crypto in general but he is apprehensive towards Bitcoin only because of the fear of China and nothing else.
” I like crypto. I just don’t trust the People Republic of China. ”
Ethereum could escape the clutches of China
When the host asked Cramer whether he finds it interesting that China has gone after only Bitcoin, which is the heavyweight in crypto market and not any other, he said that there is a good chance that Ethereum could escape the clutches of China.
Totally understand China’s skepticism
Cramer also said that he understands why Chinese government is so strictly against Bitcoin.
” I have not been very positive on the actions of PRC (People Republic of China) obviously but I just think that their government doesn’t want billionaires who are sitting in USA to run an alternate currency which I totally understand and I don’t want to run foul. “
Bitcoin has been struggling to consolidate ever since Chinese government has started its crackdown on it. At the time of publishing this article, its price was recorded at $ 32,892 which is in sync with its price in January. Ethereum has had a similar fate as the value of one Ethereum is $ 1930 which is similar to its price in April 2021.