CNBC host Jim Cramer is among the most-followed investors by retail traders. Sometimes Cramer is followed so investors can do the opposite of what he says, which may explain why the cryptocurrency community is rejoicing in a recent quote from Cramer.
Cramer to Sell His Bitcoin
The price of Bitcoin (CRYPTO:BTC) has declined by more than 25% year-to-date in 2026, but there could be good news based on social media posts celebrating.
Some cryptocurrency accounts on social media platform X have been celebrating the fact that Cramer announced plans to sell his Bitcoin.
"I’m going to sell my Bitcoin," Cramer said on CNBC this week.
The comment came after he interviewed International Business Machines (NYSE:IBM) CEO Arvind Krishna on "Mad Money" on Friday.
During that episode, Cramer expressed worry about his cryptocurrency due to quantum computing. Kirshna worried about trouble ahead for cryptocurrency in three to four years.
Cramer said people should take that serious and that’s why he’s selling now, instead of waiting three years.
It is unknown how much Bitcoin Cramer owns or if he actually sold his holdings this week.
Among those celebrating was digital artist Beeple, who posted the photo below of Cramer, with quotes like "The bottom is in" and "Thou shall pump." Others pointed out that Bitcoin’s price had already started moving higher after Cramer’s Friday interview.
The Inverse Cramer
Known as "The Inverse Cramer," the concept of doing the opposite of what the TV personality does has become a well-known investing thesis.
There was once an Inverse Cramer ETF and there is an Inverse Cramer investing account on Autopilot where investors can take advantage of the method.
Some within the cryptocurrency community were quick to point out the last time Cramer was this bearish on Bitcoin.
On Dec. 23, 2022, CNBC host Cramer once again criticized the cryptocurrency market and gave a warning to anyone who was investing in the sector. The comments came as it was announced that FTX co-founder Sam Bankman-Fried had been released from jail on $250 million bail.
Cramer said the SEC should be more involved in the cryptocurrency market, noting that when investors look at a filing of a stock, they know who owns it, whereas with cryptocurrency, investors don’t know who owns them.
The CNBC host previously owned cryptocurrency before selling all of it, a decision he said he announced on television and doesn’t regret.
"I would not touch crypto in a million years," Cramer said during the Dec. 23, 2022, broadcast.
Cramer went on to say that cryptocurrencies are the "creation of money by cretins."
"These are worse than even the worst Nasdaq stocks."
The price of Bitcoin on Dec. 23, 2022 when Cramer made the comments was $16,905.22. While Bitcoin is down year-to-date, the cryptocurrency is up 280% from the last time Cramer was this bearish.
Photo courtesy: katz / Shutterstock.com
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