Bitcoin is Now on Former Hedge Fund Manager Jim Cramer’s Investment Menu

On the latest episode of The Pomp Podcast, Anthony Pompliano tried to convert the guest Jim Cramer into a Bitcoiner.

CNBC’s Mad Money fame, Cramer is a former hedge fund manager who back in 2016 showed his bullishness towards BTC by calling out for $1 million only to get his bears out the following year when the digital asset went under $6,000.

But this time, the co-founder of TheStreet.com got a much-needed lesson to understand Bitcoin, and now he believes buying bitcoin is actually “prudent.”

What changed his mind is the three billion dollars that the central bank printed, which he said: “changed everything.” “I am concerned that I am not being prudent, and I now think that Bitcoin is prudent,” said Cramer.

His idea is to have his inheritance in something his kids will be comfortable with, and it isn’t gold but cryptocurrency.

“I’m going to buy it [Bitcoin] in stages…” he said and that he would keep it untouched for his kids until 2030.

On his investment menu, he had the traditional assets – gold, masterpieces, mansions, and real estate. But what his inflation handbook didn’t have was crypto.

He said gold and crypto belongs to the same category and that one has to “have one or the other.” Cramer said in the light of the current macro environment.

“We’re on a collision course, which makes me feel great about the gold I own, but I do feel that it’s perfectly logical to add crypto to the menu.”

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Author: AnTy

Joe Rogan Tells 200 Million Podcast Listeners To ‘Stack Sats’ With Cash App Advertisement

Joe Rogan, the popular host of the podcast – The Joe Rogan Experience – asked his followers to buy bitcoin during one of the episodes while promoting his advertiser Cash App. Before starting any episode, Rogan takes the first 5-10 minutes to talk about the sponsors of the episode.

Cash App is a bitcoin retail app using which people can buy and spend bitcoin and developed by Square, a venture of Twitter CEO Jack Dorsey.

At the start of episode 1515, Rogan talked about Cash App and how easy it is to use and then went on to discuss the technical supercity of bitcoin as a form of cash. He also mentioned the bitcoin slang and asked his followers to ‘stack sat.’ While promoting the Cash App Rogan read aloud:

“Bitcoin is a transformational digital currency that acts as a decentralized peer-to-peer payment network powered by its users, with no central authority. I love it. I wish it was the way we exchanged currency, and maybe it will be in the future. Get on board.”

Rogan also went on to explain what Sat is, given not all of his 200 million followers of the podcast might be aware of the term.

Joe Rogan’s podcast has made him a media mogul. He recently inked a $100 million deal with Spotify to transfer his podcast from youtube to Spotify. The gravity and the monetary aspect of the deal highlight Rogan’s reach and impact on today’s generation. The podcast has seen many high profile names grace the guest chair and, there is no particular theme, and the topic of discussion revolves around guest’s expertise and present affairs.

Rogan has also made it clear that he uses privacy centered Brave browser to get extra privacy for his data. So, even though Cash App is an advertiser, Rogan genuinely believes in Bitcoin and what it brings to the table.

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Author: Hank Klinger

Investor Losses His Entire Bitcoin Savings in a Hardware Phishing Scam

In a tragic event, Eric Savics, the host of the ”Protocol Podcast” lost all his bitcoin savings — 12 BTC worth over $100k — that he accumulated over 7 years in a hardware phishing attack.

“I had all of my Bitcoin stolen from me in a hardware wallet phishing scam. Has anyone ever successfully retrieved stolen Bitcoin? Any help or guidance would be appreciated,” tweeted Savics.

Since reaching out to the community, many have offered a helping hand.

“Sorry for your loss; never enter a seed phrase into a computer,” said Jameson Lopp, CTO of Casa.

While trader NebraskanGooner came forward to buy him a Trezor for safekeeping of the bitcoin from now on, other traders Josh Rager and Cantering Cark wanted to help by sending some BTC.

“I’ve gotten a shitload of DMs asking for access to my RSI script and declined them all. I’ll make an exception. Send .02 btc to the address below and dm me the txid and I’ll add you. Lets get this guy back on his feet,” said trader CryptoGainz.

Binance CEO, Changpeng Zhao offered to put the receiving address in the blacklist.

Many more have come forward to help Savics to help build some of his BTC balance back up.

Fake Bitcoin Wallet Extensions Running Rampant

Savics put on a video on Twitter where he talked about how he has been building up his bitcoin stash since 2014 and had been using the KeepKey Bitcoin wallet on his desktop. While downloading its corresponding app, he ended up downloading a malicious version of the wallet from the Google Chrome store.

Upon entering his recovery phase — 12-words mnemonic seed used to create a wallet and generate a private key, all his BTC were then stolen.

Savics also shared a screenshot and realized it had a typo, “the scammers spelt the phrase wrong.”

Cryptocurrency exchange ShapeShift, which operates the KeepKey wallet, had warned last week that fake KeepKey apps are being advertised in the Google Chrome store.

“We will never ask you for your 12 word seed phrase, if anyone does that is a scam. Phishing attempts, such as these fake wallet apps, can lead to users losing their crypto,” the exchange had warned.

This is not the first time something like this has happened. Crypto market is still running rampant with scams and fake crypto wallet apps and extensions have long been a problem. In April, Google removed 49 fake crypto wallet extensions that were impersonating the popular wallets like Trezor, Ledger, and MyEtherWallet.

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Author: AnTy

Bitcoin’s is Gold 2.0; Billionaire Lays Out BTC’s Path Forward in Macro Backdrop

In the latest episode of The Pomp Podcast, host Anthony “Pomp” Pompliano had Chamath Palihapitiya, the CEO of Social Capital as a guest who talked about Bitcoin’s path in the current macro backdrop.

The currency situation is exactly “the set up” for Bitcoin, said Palihapitiya, which means, “Bitcoin needed a moment like this for it to be relevant.”

“Right now, I think what you’re seeing is that it’s still a speculative instrument and it’s too speculative for it to be reliable so if you’re going to make the case that it should replace fiat currency, well one thing you have to look at is the volatility of the US dollar and you can’t replace it with something that’s 9 sigma more volatile.”

And that’s the reason it doesn’t work. The extreme volatility means “you can’t effectively use it and so what it does is it pushes it into this ghetto of day traders and speculators and right now that’s where we are. We’re in that ghetto and you need to get out and the way that it gets out is that you need to flush the speculators and day traders out and you need to have still some basis of interest from long-term holders and then you need to have it slowly look like the traditional infrastructure could really implode.”

Not gold but gold 2.0

Currently, Bitcoin is “driving slowly but we are driving towards a top of a cliff and then we’re going to drive much much faster down that cliff, tore down that hill and at the end of it is a huge brick wall, the way we avoid it is by pivoting to a resilient economy where we introduced in efficiency and cost and inflate our way out of it or debasement.”

The path of dependence for Bitcoin he said is “if it looks like path two is likely when the world’s leading cryptocurrency will really emerge as a flight to safety and over the next ten years where this trajectory is going to take shape and it is a ten-year trajectory you’ll have a lot of time to vector into it, to protect yourself and to hedge yourself.”

The Chairman of Virgin Galactic shared that he first bought “a lot” of Bitcoin in 2013 and at one point he had “almost 5% of all the bitcoin.”

He “never” bought any more BTC and now they sit with a company where they are being used for trading purposes and other strategies. The move was “mostly for safety and security and peace of mind, I didn’t want to deal with it,” said Palihapitiya.

A minority stakeholder of the NBA’s Golden State Warriors Palihapitiya sees Bitcoin as a very binary investment, and it doesn’t matter if it swings wildly because “this is either zero or it’s millions because what it will do is it will create a quasi gold standard.” However, instead of central banks owning gold, Bitcoin

“is an instrument that has value, that’s determined by in between its participants and it’s owned by everybody.”

So, it’s not gold but gold 2.0 which “replaces the method of value transfer that you need for fiat money to be valuable but that only happens if the US dollar looks like it’s going to careen into this wall so I think that’s the bet.”

You can listen to the full interview here:

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Author: AnTy