In the US, a lottery player has ended up winning a US$ 731 Million jackpot under the US’s most popular lottery called – PowerBall. Jim Cramer who is a famous US celebrity hosting favorite TV show Mad Money has an advice for the Powerball Winner. Cramer suggested the winner of 731 Million Dollar invest at least 5% of the jackpot money into Bitcoin and other crypto-assets such as Ethereum. Also advised to inject money into Gold and in the business of real estate.
Recently famous multi-million-dollar US’s trader-cum-TV host, Jim Cramer had valuable advice for the winner of Powerball’s jackpot. A few days ago, the US’s most popular and played lottery, Powerball announced its results in which a winner managed to scoop jackpot prize money. For over 35 weeks, Powerball’s jackpot was going unclaimed but the amount of grand prize continued to increase and reached US$731 Million.
However, at the end of last week, Powerball was able to find the winner of its mega prize-winning. The person winning this huge jackpot was reported to be from the State of Michigan, however, the winner’s identity hasn’t been publicly announced. Cramer was hosting Mad Money when he made mention of Powerball’s winner. Cramer took the opportunity to advise the winner of some valuable investment opportunities including gold trading and real estate business. In addition, Cramer also urged the winner to invest at least 5% of the money he or she has earned into Bitcoin.
Hosting a popular TV show is not the only reason for Cramer’s popularity. He is a veteran trader and an author of several writings. He is also known as one of those hedge fund managers who are enjoying a successful career.
In his recent appearance in Mad Money, Cramer detailed a list containing multiple choices of investments that can be beneficial for Powerball’s winner. He stated that if you become rich like the Powerball’s winner than paying taxes is not the big issue. The real issue is what would one does with such a big amount, said Cramer. The millionaire’s worry is the hyperinflation and that can be eradicated only through the proper use of available money, he added.
He later on advised the winner to inject at least 5% into gold plus 5% into Bitcoin and another 5% each into real estate and gold trading. He categorically suggested the winner not to keep all the money at home or avoid spending it without the dire need.
After giving his advice, Cramer further advised the winner to be aware of scammers. He also suggested collecting the jackpot money into lump sum rather than receiving it on periodically. He stated that receiving money periodically will not borne any fruitful purpose and would be spent rather unnecessarily.
Lately, Cramer too had announced that he had bought a few Bitcoins in December. However, the TV host sold out his Bitcoin holding when he thought the price was right for him.