Jim Cramer Acknowledges Mistake on Bitcoin, Admits Premature Call to Sell

In a surprising turn of events, renowned markets commentator Jim Cramer has tacitly admitted to being wrong about Bitcoin, acknowledging that he was premature in advising investors to sell the cryptocurrency. The admission came during a Nov. 22 segment of his CNBC Mad Money show, where Cramer responded to a caller inquiring about buying shares in Bitcoin miner CleanSpark.

“Look, if you like Bitcoin, buy Bitcoin. That has always been my view. And for a while, I liked it, and I decided that money had been made, but I was premature,” Cramer stated.

*Despite not having made perfect calls on Bitcoin in the past, Cramer noted that he had still “made a lot of money” from his investment in it.

Cramer’s admission follows a notable incident on Dec. 5, 2022, when Bitcoin was trading at $17,150. At that time, Cramer urged investors to sell all their crypto investments, regardless of the cost, stating that it was “never too late to sell an awful position.” Since that call, the price of Bitcoin has rallied an impressive 118%, currently standing at $37,390.

Cramer’s predictions and his love-hate relationship with cryptocurrency have become a popular meme within investing communities over the past few years. Many have pointed out his uncanny ability to make incorrect calls at key moments, turning his on-again-off-again stance on crypto into a subject of both humor and criticism.

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Maria Irene
Maria Irenehttp://ledgerlife.io/
Maria Irene is a multi-faceted journalist with a focus on various domains including Cryptocurrency, NFTs, Real Estate, Energy, and Macroeconomics. With over a year of experience, she has produced an array of video content, news stories, and in-depth analyses. Her journalistic endeavours also involve a detailed exploration of the Australia-India partnership, pinpointing avenues for mutual collaboration. In addition to her work in journalism, Maria crafts easily digestible financial content for a specialised platform, demystifying complex economic theories for the layperson. She holds a strong belief that journalism should go beyond mere reporting; it should instigate meaningful discussions and effect change by spotlighting vital global issues. Committed to enriching public discourse, Maria aims to keep her audience not just well-informed, but also actively engaged across various platforms, encouraging them to partake in crucial global conversations.

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