“I have a lot of ether,” Cramer said on “Squawk Box,” explaining that he originally acquired it to bid on non-fungible tokens, or NFTs, auctioned in March by Time magazine. “I didn’t understand it, so I just kept the ether,” he said.
Cramer said he might end up “buying a house” with his ether, a reference to his recent revelation that he sold some of his bitcoin holdings in order to pay off a mortgage. “I now own a house – lock, stocks and barrel – because I bought this currency,” the “Mad Money” anchor said on CNBC on April 15.
Cramer’s comments on Tuesday come as the Aether extends its massive rally so far into 2021, setting an all-time high of just above $ 3,500. Ether, which runs on the Ethereum blockchain, has climbed more than 370% since the start of the year, with a total market value now above $ 400 billion, according to CoinMarketCap.
Bitcoin, which has the largest market cap of all digital coins, traded above $ 55,000 per token on Tuesday, around 15% lower than last month’s all-time high, but still close to double in 2021. The current price point has placed the total market value of bitcoin at a bit higher. $ 1 trillion, or nearly half of the entire crypto market.
Generally speaking, cryptocurrencies have progressed into the mainstream throughout 2021. Crypto Exchange Coinbase’s direct listing last month on the Nasdaq was heralded as a major milestone for the booming industry digital assets.