What to know:
- “If you want to own bitcoin, (you) own bitcoin,” Cramer stated in response to a caller during his segment.
- Meanwhile, there might still be hopeful signs for both MicroStrategy enthusiasts and Bitcoin skeptics in the near future.
Former hedge fund manager Jim Cramer has advised viewers to purchase Bitcoin (BTC) directly instead of investing in MicroStrategy, which is recognized as the largest holder of the digital currency, during a recent episode of CNBC’s Mad Money. Cramer expressed, “If you want to own bitcoin, (you) own bitcoin,” while addressing a question from a viewer. He continued, “I own bitcoin, you should own bitcoin. Bitcoin is an excellent asset to include in your investment portfolio.”
However, he concluded his thoughts by mentioning MicroStrategy without diving into specifics about its performance. MicroStrategy currently possesses over 417,107 Bitcoin, with a total value exceeding $48 billion at recent market rates.
Despite Cramer’s comments, there may be a brighter outlook for supporters of MicroStrategy and skeptics of Bitcoin in the coming weeks. Historically, Cramer’s recommendations frequently behave in an opposite manner in the long run, leading to perceptions of him being more of a contrary indicator.
An amusing online theory dubbed “Inverse Cramer” led to the introduction of a temporary Inverse Cramer ETF back in 2022, which was later discontinued in early 2024.
In a prior statement from January 2024, Cramer had predicted that Bitcoin prices might be nearing their peak and prompted investors to consider selling their holdings. Surprisingly, the asset has since surpassed its previous high by over 100%. At present, Bitcoin’s value is slightly above $103,000 in early trading hours in Asia, marking a 4% increase since Monday.
