Crypto Community Panics After Jim Cramer's "Bitcoin Is the Winner" Comment

Jim Cramer, the host of Mad Money, caused a major surprise for the Bitcoin investment community on Friday when he made an optimistic prediction that left many investors on X bewildered. Cramer, known for his skeptical views on cryptocurrencies, has surprised many by saying that MicroStrategy, the company that currently owns the most Bit, is a less attractive investment than Bit itself. "I have to tell you, this is a Bit play - I really like owning Bit better," Cramer said about MicroStrategy, noting that the influential investment research firm Citron Research had disclosed a Short MSTR position earlier this week. "All I can tell you is, own Bit. That's the winner." Cramer, who previously shared that he used profits from selling Bit and Eth to buy a farm and a boat in 2022, has shifted to supporting Bit since the beginning of this year. He has praised Bit's strong recovery in the face of regulators, calling it a "technological wonder." However, Cramer's praise on Thursday has left many Crypto X investors feeling anxious, with some perceiving it as a sign of the start of a bear market. "It's over," Tiffany Fong, an influential figure in the crypto community, wrote on X. Meanwhile, analyst Jacob King sarcastically commented: "The bull market just signed its own death certificate." As the cryptocurrency and finance community increasingly becomes skeptical of Jim Cramer's advice, some investors have started paying attention to the "inverse Cramer" trend. This is a strategy that does the opposite of what the Mad Money host considers beneficial decisions. On Wall Street, this strategy was previously applied through a now-defunct ETF fund. Although Cramer has made profits from selling cryptocurrencies in the past, he also acknowledged last year that he may have sold too early. After the FTX collapse in 2022, Cramer advised investors to abandon cryptocurrencies, calling it a "terrible position" that needs to be sold. He once said: "It's never too late to sell a terrible position, and that's exactly what you should do if you own these digital assets." However, in 2021, Cramer encouraged companies like MicroStrategy to adopt Bit as a treasury reserve asset. "Every CFO should ask their board of directors, 'Should we put a little bit of our cash into Bit?' I think it would be irresponsible not to consider Bit in the context of modern finance." Join Telegram: https://t.me/tapchibitcoinvn Twitter (X): https://twitter.com/tapchibtc_io Tiktok: https://www.tiktok.com/@tapchibitcoin Annie According to Decrypt