Market commentator and in style media character Jim Cramer could also be advocating for Bitcoin (CRYPTO: BTC) today, however not way back, he fully wrote off cryptocurrency as an funding.
When Cramer Bought All His Crypto
The beautiful collapse of the FTX trade throughout the fall of 2022 triggered a “Crypto Winter,” dragging Bitcoin to a low of $16,000. The trade’s chapter and subsequent arrest of Sam Bankman-Fried rocked the market, only a yr after it had celebrated new highs.
On this backdrop, Cramer appeared on CNBC on Dec. 23, stating that the religion of the American folks has been shaken.
“I bought all my crypto. I introduced all the things on TV, what I did with crypto,” the “Mad Cash” host mentioned. “I wouldn’t contact crypto in one million years.”
Cramer Questions ‘Blind Religion’
Cramer additionally took a dig at those that put their cash on unregulated buying and selling platforms.
“When you’ve got your cash in any of these, look, I’m not calling you an fool. I’m simply saying you’re utilizing a variety of blind religion,” he mentioned.
See Additionally: Jim Cramer On Lumen Applied sciences: Be Cautious, It Has ‘Run Too A lot’
‘Inverse Cramer Concept’ At Play?
Bitcoin traded at $16,796 when Cramer made these remarks.
Quick ahead three years, and the apex cryptocurrency is price $86,805 apiece, marking a whopping return of 416%. So, if you happen to adopted the “Inverse Cramer” technique, you’d be laughing all the way in which to the financial institution as we speak.
Word that there was no definitive proof of this being a worthwhile technique. So DYOR.
| Cryptocurrency | Value (Recorded on Dec. 23, 2022) | Value (Recorded at 11:45 p.m. ET) | Beneficial properties +/- |
| Bitcoin |
$16,796.95 |
$86,805.90 | +416.79% |
The Previous And The Current
It is price mentioning that whereas Bitcoin has thrived in a broader three-year timeframe, its fortunes have declined extra lately.
The apex cryptocurrency has worn out all of its 2025 positive factors within the ongoing droop, and at the moment trades 31% beneath its all-time highs.
In the meantime, Cramer sounds extra like a Bitcoin fan as we speak. Final week, he mentioned that he simply needs Bitcoin, not any by-product or Bitcoin treasury corporations.
Earlier within the yr, he advocated for Bitcoin as a hedge in opposition to the escalating U.S. nationwide debt, stating that he was shopping for rather a lot himself.
Picture courtesy: katz / Shutterstock.com
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