In recent Jim Cramer Bitcoin news, the well-known financial commentator and TV personality on CNBC’s “Mad Money,” has made waves in the digital assets world with his evolving stance on Bitcoin. His recent comments signal a significant shift from previous skepticism to a newfound belief in the resilience and potential of the digital money.
Jim Cramer’s Bitcoin Journey
Cramer’s journey with Bitcoin has been marked by a series of shifts in perspective. Initially bearish on Bitcoin investments, he notably dismissed the asset class during the bear market of 2022, advising holders that “it’s never too late to sell.” However, recent statements reflect a change in his stance as bitcoin surged to 21-month highs.
In a recent Mad Money episode last month, he sounded a little softer on bitcoin, when he said “If you like Bitcoin, just buy Bitcoin.”
Cramer’s New Found Admiration for Bitcoin
In an appearances on CNBC‘s “Squawk on the Street,” Cramer acknowledged Bitcoin’s “remarkable comeback” and praised it as a “technological marvel.” His shift in sentiment aligns with the bitcoin’s rally to surpass $45,000, a milestone that even critics like Warren Buffet’s partner, Charlie Munger, had doubted.
He added:
“This thing is…You can’t kill it. And the late Charlie Munger, who was so brilliant on so many things, was blind to this […] It’s a reality, and it’s a technological marvel. And I think people have to start recognizing that it is here to stay. The SEC has been against it almost the whole time […] This is a remarkable comeback that was unexpected. Except for all the bulls, who turned out to be right!”
Jim Cramer Bitcoin News: Recognition of Bitcoin’s Resilience
Cramer emphasized that despite regulatory challenges and skepticism from figures like Munger and Dimon, Bitcoin has proven its durability and asserted itself as a lasting innovation. He highlighted the United States Securities and Exchange Commission (SEC)’s historical stance against Bitcoin, noting that despite opposition, the digital asset has persisted and gained recognition.
Related reading: Bitcoin Is an Unprecedented Blend of Invention And Discovery — Michael Saylor
While recognizing Bitcoin’s strength, Cramer also pointed out potential market scenarios. He mentioned the anticipation surrounding a Spot Bitcoin Exchange-Traded Fund (ETF) approval, cautioning investors about the possibility of a “sell-the-news” event post-approval. This prediction contrasts with some market sentiments, suggesting a divergence in perspectives within the financial community.
He added that people “who are in it for that will use that chance to sell.”
Jim Cramer’s Bitcoin Sentiments: A 180 Degree Turn
Cramer’s influence on market sentiment has gained attention, with some humorously suggesting an “Inverse Cramer ETF.” This concept implies that Cramer’s predictions often lead to the opposite outcome, showcasing the complexities of interpreting his comments in the volatile digital asset landscape.
Cramer’s evolving views on Bitcoin reflect the increase in Bitcoin’s popularity and adoption. Despite his historical skepticism, his recent acknowledgments of Bitcoin’s strength and resilience underscore the traction Bitcoin is gaining in mainstream media, with only days away from Spot Bitcoin ETF approval by the SEC.
Community Reactions
Reactions about Cramer’s recent statements spread across social media like wildfire. Sentiments were different, some said that Cramer was the “final boss” in Bitcoin adoption, and that the battle is over.
Some provided humorous feedback, stating that if a skeptic like Cramer is advocating for Bitcoin, it’s a signal that the bullish trend is over.
Others dismissed the recent comment made by Mad Money commentator, stating that it is irrelevant to Bitcoin.
Bitcoin is Getting Traction
Bitcoiners are seeing Bitcoin adoption in ways they never thought possible. From skeptics like Cramer praising Bitcoin, to ads for it in mainstream media, it seems like Bitcoin is finally finding its way into the traditional financial markets. Could this be the end of the “then they fight you” phase Bitcoiners were eagerly waiting for?
Considering all that is happening, 2024 seems to be a very interesting year for Bitcoin.
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