On Monday (March 13), with Bitcoin trading above the $24,000 level, former hedge fund manager Jim Cramer shared his thoughts on Bitcoin’s post-SVB collapse rally, which has taken the $BTC price from around $19,616 to $24,691 (which is where it is now).
Cramer hosts the CNBC show “Mad Money w/ Jim Cramer. “ He is also a co-anchor of CNBC’s “Squawk on the Street, “as well as a co-founder of the financial news website TheStreet.
On December 23, 2022, during an appearance on CNBC’s “Squawk on the Street,” Cramer told the program’s anchor, Carl Quintanilla:
“One of the reasons why I’m upset, and I think the SEC should be a little more over these things, is when we look at a filing of a stock, you know who owns it. We don’t know what this guy is…
“I mean, I sold all my crypto. I announced everything on TV that I did with crypto, but I would not touch crypto in a million years... “Try to get your money out… I’m not going to mention the firm that I had my money in, but it was a fight to get the money out. A fight. And i think that everybody who owns these various coins, you know, Solana, Litecoin, I do think you’re an idiot… I did not go to college to get stupid. These people who only these things should not own them.”
Then, on January 9, 2023, he told his 1.9 million Twitter followers that this was a good chance to get out of crypto, which prompted Dan Held, Bitcoin educator and marketing advisor at Trust Machines, to say that Cramer’s comment meant that the crypto market had bottomed:
According to data from TradingView, since that tweet, the price of Bitcoin has gone from $17,276 to $24,691, which is a gain of around 34.5%:
In yesterday’s “Mad Money” episode, Cramer called Bitcoin “a strange animal”, and seemed totally unimpressed by Bitcoin’s post-SVB-collapse rally:
“I would sell my Bitcoin right into this rally.“
This led former Blockstream CSO Samson Mow to joke that Cramer’s latest comments suggest that the Bitcoin price is headed to a new all-time high:
