Tags: jim cramer | cnbc | boeing | bitcoin

CNBC's Jim Cramer: Boeing Is a Better Investor Bet Than Bitcoin


By    |   Friday, 12 January 2018 10:40 AM

Economic guru Jim Cramer recently told savvy investors that he's recommending Boeing Co. over the controversial digital currency bitcoin.

Cramer said on his "Mad Money" CNBC show that he remained puzzled by the market's obsession with volatile cryptocurrency bitcoin in the face of actual gains from stocks like Boeing.

Bitcoin has taken the investing world by storm, surging to a high of more than $19,000 and created a divide on Wall Street about whether it is a legitimate financial instrument.

Concerns about a bubble in the bitcoin market have heightened since the currency soared to record highs of more than $19,000 in December - only to then slump more than 28 percent. Bitcoin was recently trading at $14,676, according to prices compiled by the Luxembourg-based Bitstamp exchange.

Earlier this week, Boeing said it expects the number of passengers carried by worldwide airlines to increase 5.5 percent to 6 percent this year, faster than historic levels of about 5 percent, but slower than the growth logged in 2017, Reuters reported.

The forecast, which is based on Boeing’s study of capacity increases planned by airlines, is down from growth of about 7.25 percent in 2017. But passenger growth likely will outpace capacity this year, as it has over the last eight years, Randy Tinseth, Boeing vice president of marketing, said on a conference call as the company released year-end jetliner sales and delivery totals.

For his part, Cramer shared a story of two cigarette-puffing Wall Streeters asking him incessantly to comment on bitcoin. "No bitcoin," he told them. "Boeing."

Meanwhile, bitcoin continues to come under fire.

In fact, one of the most respected investors of all time also is very wary.

Berkshire Hathaway’s Warren Buffett said this week he will never invest in cryptocurrencies. “I can say almost with certainty that cryptocurrencies will come to a bad end,” Buffett told CNBC in an interview.

Buffett's comments came just a day after JPMorgan Chief Executive Jamie Dimon told Fox Business Network that he regrets having called bitcoin a “fraud” but would still not be interested in the cryptocurrency.

(Newsmax wire services contributed to this report).

© 2019 Newsmax Finance. All rights reserved.

1Like our page
CNBC "Mad Money" host Jim Cramer recently told savvy investors that he's recommending Boeing over bitcoin, the wildly popular cryptocurrency.
jim cramer, cnbc, boeing, bitcoin
Friday, 12 January 2018 10:40 AM
Newsmax Media, Inc.

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved