Jim Cramer, who frequently comes to the fore with his comments on the market and his opposition to BTC, Bitcoin He admitted that he was wrong about that. Cramer said he was premature in urging investors to sell the cryptocurrency.
Speaking on the November 22 episode of CNBC Mad Money Jim Cramerresponding to a listener who asked about buying shares in Bitcoin miner CleanSpark, stated that anyone who loves BTC should be interested in the asset.
Look, if you like Bitcoin, buy Bitcoin. That has always been my view. I liked it for a while and decided it was money to be made, but I was too early.
Cramer also claimed that he “made a lot of money” from investing in BTC, even though he hasn’t made perfect decisions with Bitcoin before.
On December 5, 2022, when Bitcoin was trading at $17,150, Cramer invited investors to sell all their crypto investments regardless of the cost. Cramer claimed at the time that “it’s never too late to sell a lousy position.” BTC price has risen 118% since then and is currently trading at $37,390.
In August 2022, a crypto trader claimed that he doubled the size of his portfolio simply by trading in the opposite direction of what Cramer suggested.
Two months later, on October 6, a mutual fund filed for an “inverse Cramer ETF” – a financial vehicle designed to deliver results in trades “that are approximately the inverse of the results, before fees and expenses, of investments recommended by television personality Jim Cramer.”
Finally happened: Cramer ETFs
Inverse Cramer ETF $SJIM
Long Cramer ETF $LJIM
Eff Dec 1920-25 equal-weighted stocks/ETFs based on Cramer’s Twitter & TV recommendations and market views. Positions exited if Cramer has no view & once profit targets met.https://t.co/ZvA5G2zoTX pic.twitter.com/tY9yBMt15s
— ETF Hearsay by Henry Jim (@ETFhearsay) October 5, 2022