Investors who are believers in cryptocurrency will want to own shares of Coinbase for the long haul, the "Mad Money" host said ahead of its direct listing.
CNBC’s Jim Cramer endorsed buying Coinbase in its public debut Wednesday, saying he’s impressed by the popular cryptocurrency exchange’s business model and leadership team.
“If you, like me, [are] a big believer in cryptocurrency … you’ll want to own Coinbase for the long-haul,” the “Mad Money” host said. “What matters to me is that there’s a tremendous appetite for this new asset class and it’s not going away. You don’t have to be a believer in crypto the concept to believe in crypto the investment,” he said.
“I think Coinbase is the real deal — the numbers are incredible — he said. “
“I say buy some tomorrow, ideally at less than $475, but I accept that some has to be bought,” Cramer advised.
“Then wait to buy more on weakness and get ready for the bumpiest ride of your financial life, a ride I expect to be lucrative over the long haul.”
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