Jim Cramer Says He Used Bitcoin Profits to Finish Paying Mortgage: ‘Phony Money Paying for Real Money’

CNBC host Jim Cramer disclosed on Thursday that he had used profits from selling bitcoin to finish paying for a mortgage.

“I paid off a mortgage yesterday with it,” Cramer said in a segment of Squawk on the Street. “From the chart, I may be the only natural seller, but it was so great to pay off a mortgage. It was like, kind of, phony money paying for real money,”

The price of bitcoin hit a new record on Wednesday, slightly exceeding $64,000, on the same day that Coinbase, the top U.S. cryptocurrency exchange, went public with a Nasdaq offering. Bitcoin had receded to about $63,000 as of Thursday, though the cryptocurrency market as a whole was still hovering at a record high in excess of $2.3 trillion.

Cramer said he bought bitcoin at $12,000 and had sold half leading up to Wednesday — despite dismissing it as “monopoly money” as recently as 2017.

“I now own a house lock, stock, and barrel because I bought this currency,” Cramer said Thursday. “So I don’t know, I think I won!”

Watch above via CNBC.