- Jim Cramer has a fatalistic relationship with Bitcoin, switching sides like he’s a quintuple-agent in a spy movie.
- The infamous Mad Monday host appears to be anti-BTC again after posting a tweet making fun of the coin’s 11% drop after hitting a new all-time high.
- Of course, Cramer’s post was met with mirth as the market responded and BTC climbed 4% almost immediately.
- Don’t forget – Cramer told BTC holders to sell their portfolios at $24K.
The crypto community’s always managed to attract some interesting characters. A few years back the ever-enigmatic Snoop Dogg jumped on board (we’ve heard he’s quitting marijuana, thoughts and prayers). And more recently, even Donald Trump said he could “live with” crypto on LIVE TELEVISION. But perhaps the most surprising person to join the crypto parade is none other than Jim Cramer.
Related: The End of an Era – Inverse Cramer ETFs to Stop Trading
This might seem a bit strange – he’s a financial analyst. Therefore, it shouldn’t be a stretch for Cramer to become a Bitcoin advocate. They’re the same industries, after all.
Well, Jim has a bit of a complicated past with the crypto world. We won’t go over it again – you can read all about it here at JimCramer’sFanClub.com CryptoNews.com.au. If you don’t like it when articles give you a bit of homework, we think this tweet pretty much sums it up.
Inverse Cramer at it Again
Jim Cramer is notorious beyond just the crypto industry – in fact, he’s probably more infamous in the trad financial markets world. The outspoken analyst has his own segment on CNBC where he makes picks on investments he believes will fare well, and those that will not.
And such is his reputation for being wrong, that legitimate funds have been created to do the exact opposite of everything he says. But at this point, it seems like the market is just responding to Cramer out of spite, rather than him being wrong.
After a change of heart akin to Darth Vader at the end of Episode VI, Cramer had somehow become something close to a Bitcoin advocate. Yet it appears there’s no end to his flip-flopping, after the controversial host posted a tweet mocking Bitcoin’s latest all-time high, implying the run was being propped up by Michael Saylor and MicroStrategy.
At the time, BTC had slumped by about 11% from its all-time high, so Jim probably thought he was being pretty clever with his tweet.
Related: Senate Hopeful John Deaton Begins Accepting Crypto Donations
However, like always, Cramer managed to pick the bottom. Within an hour of Cramer’s post, Bitcoin had rebounded from USD $61K (AUD $93K) to $63K (AUD $96K).
But hey. Not everything about the tweet was bad – that dog is pretty darn cute.
Source:
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