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.
