Shocking Reversal: Cramer Now Loves Bitcoin

[Baron]

Jim Cramer, former hedge fund manager and host of CNBC’s Mad Money, Tuesday morning reversed his previously bearish stance on bitcoin (BTC) ahead of what's expected to be U.S. regulatory approval of a spot ETF and as the price rose above $45,000 for the first time in 21 months.

"This thing, you can't kill it," Cramer told CNBC's David Faber. "Bitcoin is a technological marvel and I think people need to start recognizing it's here to stay." Cramer also took note of another famous Bitcoin skeptic (to put it mildly), saying the late Charlie Munger "was blind to this."

https://twitter.com/x/status/1742203998411608490

 

[destriero]

This thread just called the top.

 

[TrAndy2022]

Oh, I just quitted my longs recently because of that (market also loose momentum in past weeks and then the recent SEC news which was not good too). Not a good sign, as he is a good contra-indicator.

 

[SunTrader]

Cramsky the PermaBull .... Killer.

$5k drop next day. lol

 

[notagain]

SEC classification for natural asset companies, incoming?

 

[murray t turtle]

Cramsky the PermaBull .... Killer.

$5k drop next day. lol

%%
WELL he did come close somewhat ; ''BAC is going to $60 in a heart beat LOL''
And in fairness /he got the BAC direction long term right /UP, way back yonder .
He is honest enough to disclose some things in his book$ he may not admit on TV{1st wife wisely sold all he had on his bagel break LOL}
NOT clear, if he felt that was funny .Dont know

 

[maxinger]

My ggodess!
Cramer has been sleeping for 2 months.


The uptrend started 2 months ago.

Anyway when he said buy, some people sell.
When he said sell, some people buy.

Indeed, his comment is shocking.

 

[The_Krakenite]

Don't panic here bulls. He's just talking his book because he has shorts on Bitcoin. Of course he knows by now the market will sell off if it thinks he is really going long.

Don't fall for it!

 

[DaveV]

i trade every evening until 8PM and always have CNBC on the TV in the background, so I have seen a lot of Cramer Mad Money episodes. While Cramer has never been a straight Bitcoin evangelist, whenever a caller has asked about buying anything crypto related, such as MARA, Cramer has always responded - "If you want to get into crypto, just buy Bitcoin".

 

[EdgeHunter]

Jim Cramer, former hedge fund manager and host of CNBC’s Mad Money, Tuesday morning reversed his previously bearish stance on bitcoin (BTC) ahead of what's expected to be U.S. regulatory approval of a spot ETF and as the price rose above $45,000 for the first time in 21 months.

"This thing, you can't kill it," Cramer told CNBC's David Faber. "Bitcoin is a technological marvel and I think people need to start recognizing it's here to stay." Cramer also took note of another famous Bitcoin skeptic (to put it mildly), saying the late Charlie Munger "was blind to this."

https://twitter.com/x/status/1742203998411608490

JPMorgan... A Primary Dealer (part of the FED) and a very common interviewee on CNBC may/will be the AP for two Bitcoin ETF... Never fade your fellow travelers...