CNBC Host Jim Cramer Now Advises Investors to Buy Bitcoin
In an unexpected turn of events, Jim Cramer, the host of CNBC’s Mad Money, has reversed his opinion on Bitcoin, urging investors to reconsider their positions as the cryptocurrency reaches its highest value in a year and a half. Previously, Cramer had advised against investing in Bitcoin but now acknowledges that his earlier assessment was premature.
Bitcoin has seen a significant surge in value, surpassing $38,000 for the first time in 18 months. Over the past month, the cryptocurrency has shown a steady increase of 10%, while Ethereum has also experienced a spike of 17%, reaching its own 18-month peak.
This positive momentum is largely attributed to industry optimism surrounding the potential approval of a spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). If approved, the ETF would allow traditional financial institutions to gain exposure to Bitcoin without directly holding the cryptocurrency. Analysts believe that such approval could result in a substantial $1 trillion boost for Bitcoin and other digital assets.
Despite previously dismissing cryptocurrencies due to the crypto market collapse in May 2022 and the closure of crypto exchange FTX, Cramer now claims that he has always supported those who have long-term faith in Bitcoin. He encourages individuals to consider purchasing Bitcoin if they believe in its potential.
Cramer’s change in stance on investments has faced criticism from the crypto and finance communities. Some have suggested that going against his advice could be a prudent financial strategy, leading to the launch of an inverse Cramer ETF to provide returns opposite of his stock picks.
In a recent segment on CNBC, Cramer stated, “If you like Bitcoin, buy Bitcoin,” admitting that he is now bullish on the cryptocurrency. This statement has caused a stir among investors and analysts, who are closely observing the impact of Cramer’s reassessment on the market.
As more traditional financial figures like Cramer publicly endorse Bitcoin, the mainstream adoption of cryptocurrencies continues to accelerate. The shifting attitudes towards digital assets could have a significant impact on the future of the global financial landscape and the perceptions of individual investors.
Watching Cramer’s change of heart may serve as a reminder that the perspectives of financial experts can evolve alongside the markets they navigate. Whether investors heed Cramer’s new advice or not, the impact of his words on the market is undeniable. It remains to be seen how Cramer’s latest endorsement will impact the future of Bitcoin and the cryptocurrency market as a whole.
I have been a full-time professional writer for over 10 years, and have written for some of the biggest publications in the world. My work revolves around cryptocurrencies and blockchain technology, and I am widely considered to be one of the leading experts in these fields.I have written two books on the subject matter, and my articles have been featured in major news outlets such as The Wall Street Journal, Forbes, and Huffington Post. In addition to writing, I also give talks and seminars on cryptocurrency investing, and am a regular commentator on CNBC, Bloomberg, and other financial news networks.
