Key Insights
- Jim Cramer, who was once a headstrong Bitcoin critic, has now changed his stance.
- Cramer initially bought Bitcoin in 2020 but sold it all in 2022 because it was too “volatileâ€.
- Cramer has now admitted he was wrong. “If you like Bitcoin, just buyâ€.
- On the darker side, what if this is another “extremely wrong†Cramer prediction?
Jim Cramer, the host of CNBC’s Mad Money, used to be one of the most infamous BTC bears out there.
Cramer used to be known for how blatantly he asks his viewers to “sell†the “risky digital currency†at all costs, and for his controversial comments on the stock market and the economy.
However, in a recent episode of CNBC’s Mad Money, Cramer appears to have become a changed man.
The CNBC host admitted he was wrong to sell his own holdings, seemed to have a change of heart about Bitcoin, and admitted that he was wrong to sell his own holdings.
“If you like Bitcoin, Just Buy Bitcoin,” he says. More details below
Cramer’s Bitcoin Journey
Cramer first bought some BTC in December 2020, when the price was around $17,000.
He did this after being convinced by Anthony Pompliano, a popular BTC advocate. However, sometime around December 2022 when Bitcoin had crashed to under $20,000 (after FTX), Cramer announced that he had sold all his crypto investments.
“It’s never too late to sell an awful position.â€, he said about BTC. According to Cramer, Bitcoin was too volatile and unpredictable, and more stable and reliable assets were better bets.
However, right after Cramer sold in December 2022, BTC has now surged to nearly $38,000 at the time of writing.
Admitting his mistake, Cramer has said that he was “premature†in selling and that he still “made a lot of money†from his initial investment.
Cramer even went as far as saying that he had bought some more BTC recently and that he was a fan.
Cramer’s Bitcoin Advice
Earlier this week, in another episode of Mad Money, responded to a caller who asked him about buying shares in Bitcoin mining company, CleanSpark.
Cramer responded that he liked the company. However, he also mentioned that he “liked Bitcoin†and that anyone who liked Bitcoin should “just buy Bitcoinâ€.
This came as a shock to crypto speculators, who have known Cramer as a “perma-bear†(permanent bear), and as someone who (strangely enough), always makes the wrong predictions about BTC and crypto at crucial times.
In fact, Cramer has even become a popular meme among crypto enthusiasts.
One company even filed for an ETF they called an “Inverse Cramer†ETF. This ETF was designed to trade directly against Cramer’s predictions.
A famous Twitter crypto influencer even proved that he doubled his portfolio from $50,000 to $100,000 by simply “betting against Cramer”.
Overall…
Cramer’s latest comments may mean that he has finally joined millions of others who see Bitcoin’s potential as a universal means of exchange and as the right hedge against inflation.
In all, Cramer’s BTC journey has been an interesting and entertaining one, as well as a source of inspiration and amusement for the crypto community while it lasted.
On the darker side, what if this is another extremely wrong Cramer prediction, and we are about to see some bearishness?
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.
