Stock market expert and television personality Jim Cramer allegedly would not mind being paid in bitcoin. Heck, he said he might even demand it in the coming future.
Jim Cramer: I Want BTC-Based Paychecks
His comments stem from a recent news story that MicroStrategy – one of the first official institutions to publicly support bitcoin and buy billions of dollars-worth of the digital currency – would be paying its board of directors’ salaries and fees in BTC rather than cash. The company claimed that doing so was part of its everlasting “commitment” to the digital currency spectrum.
The company announced in a Securities and Exchange Commission (SEC) filing:
Going forward, non-employee directors will receive all fees for their service on the company’s board in bitcoin instead of cash. In approving bitcoin as a form of compensation for board service, the board cited its commitment to bitcoin given its ability to serve as a store of value, supported by a robust and public open-source architecture, untethered to sovereign monetary policy.
Apparently, Cramer is intrigued by the idea and wants to take part in the ongoing trend himself. He has come to see bitcoin very differently in the past few years. Just like many traders affected by the ongoing coronavirus pandemic, he has witnessed bitcoin turn into something magical. It is no longer just a speculative asset that could make its investors rich overnight. Rather, it is a store of wealth that could potentially keep one’s wealth safe during times of economic strife.
In a recent interview, he comments:
Absolutely, I think it is a store hold of value. I think this is a $2 trillion market cap maybe going on $3 trillion.
When asked further about whether he would just accept bitcoin payments and not convert them into fiat currency, he responded with:
Absolutely. As a matter of fact, I may even demand it.
He’s Not the Only One
Cramer is also enthusiastic about the future of the crypto space. He is very intrigued by the idea of Coinbase going public, which occurred earlier in the week and resulted in a new all-time high for bitcoin that exceeded $63,000. He comments:
It just says that you got to buy Coinbase. This has become common knowledge that there are many companies that are going to switch. MicroStrategy has always been the leader, so I think others are going to follow.
MicroStrategy and Cramer are not the only figures curious about the notion of being paid in BTC. Just prior to purchasing roughly $1.5 billion worth of the world’s number one digital currency by market cap, Elon Musk – the South African entrepreneur behind largescale companies such as SpaceX and Tesla – said that he would not mind being paid in the digital token through a Twitter message he posted in early January.