Jim Cramer Shifts to Bullish Outlook for Bitcoin – Will the Inverse Cramer Curse Still Play Out?
Jim Cramer – the eccentric host of CNBC’s finance show “Mad Money” – has flipped bullish on Bitcoin (BTC), signaling to some investors that it might be time to sell.
The famous commentator has spent the past 12 months urging investors to steer clear of crypto markets, despite Bitcoin (BTC)’s phenomenal performance during that time. Now in his latest reversal, he says his attitude on the asset may have been too bearish, too early.
“For a while I liked it, then I decided: You know what? The money had been made,” Cramer said about Bitcoin during a Mad Money segment on Wednesday. “But I was premature.”
“If you like Bitcoin, buy Bitcoin – that has always been my view,” Cramer added. “When you make a lot of money, let’s not look back.”
Yet Cramer’s tone on crypto has varied wildly over the past two years. Following FTX’s collapse last November, Cramer claimed he would not “touch crypto in a million years.” Three months prior, he warned that the Federal Reserve would soon crash, and told his audience not to “get crypto’d.”
Yet in the spring of 2021, Cramer had admitted to investing in BTC before taking profits later to pay off his mortgage. At the time, while BTC traded for above $60,000, he’d even suggested being paid in crypto.
Whatever his opinion may be, Cramer is infamous for his often terrible market timing. Last December, for example, Cramer told crypto investors that it’s “never too late to sell an awful position” while BTC traded for less than half the price it is today.
Last year, many even applied to launch “Inverse Cramer ETFs” with the SEC, designed specifically to invest in funds that Cramer told investors to avoid.
Cramer’s Wednesday comments were in response to a listener’s question about Cleanspark (CLSK) stock,
