Jim Cramer, the host of CNBC’s Mad Money, has reportedly referred to Coinbase stock as a stock ideal for investment and recommended dedicating 5% of investment portfolio towards crypto. 

Specifically, Cramer reportedly shared his remarks during the Lightning Round on August 25th, as a response to a question regarding whether purchasing Coinbase stock is ideal for gaining crypto exposure. 

The 66-year-old finance player reportedly claimed that regardless of the listing status for Coinbase went down “very poorly”, the firm will still be an important force throughout the crypto sphere. 

“I think Coinbase is inexpensive. I don’t really care for management because I think they let out a lot of stock when they started. I was against that. They should’ve been buyers, not sellers. I think the listing went very, very poorly. I think the company is the … natural repository of crypto.”

Coinbase stock (COIN) has reportedly witnessed a rather dull performance since its listing on the Nasdaq exchange was finalized in April this year. At the time of writing, COIN stood at the $248 benchmark, plummeting 27% from its all-time high of $340 on April 16.

Nonetheless, the company reportedly performed well in the previous quarter, with its Q2 report revealing a net profit of $1.6 billion – a significant surge from the $32 million sums recorded in Q2 last year. 

Cramer additionally shared that direct exposure to crypto should also be an option for investors, revealing that he has Ethereum in his portfolio, and a maximum of 5% of the portfolio should be towards crypto, and he himself is a “crypto believer”. 

The CNBC host was reportedly a hedge fund manager and co-founder of the financial news website TheStreet previously.