Jim Cramer has some thoughts on how Dogecoin fits into the realm of cryptocurrency.
"You know what's the easiest thing to say about the markets right now? They are all in a bubble. I find it both hilarious and bothersome that the same old mutual fund and hedge fund managers come out and use this excuse to stay underinvested or doubtful about all assets, particularly equities," wrote Jim Cramer in his Real Money column on Monday morning.
"To me, there are only three bubbles out there and they are often blinding older money managers and making them abhor everything including equities that make so much sense to own that you have to believe intellectual laziness is behind their protests," he continued.
"The first? Cryptocurrencies and non-fungible tokens. Between the two cryptocurrencies are the most realistic. I totally get the idea that fiat currency has become toxic for many. The printing presses are going full speed because of the pandemic and the Federal Reserve is buying a lot of debt. So, if there is an alternative to fiat then I would and have embraced it. I have always thought of gold, because of its scarcity, a worthy insurance to dollars. The vitality of gold is the scarcity of gold. We only find about 1% more gold a year than is currently in circulation and there is no doubt among anyone in the business that it is getting harder and harder to find," Cramer wrote.
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