Jim Cramer Calls Bitcoin “Technological Marvel,” Says Its “Here To Stay”
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Former crypto-skeptic and “Mad Money” host Jim Cramer continued to sing Bitcoin’s praises during a Tuesday morning appearance on CNBC.
Bitcoin is “here to stay”
“This thing – you can’t kill it,” Cramer stated while discussing news of Bitcoin reaching its highest trading price since April of 2022.
“Look, I mean, the reality is it’s a technological marvel and people have to start recognizing that it’s here to stay,” Cramer continued. “The SEC’s been against it the whole time.”
On Tuesday morning, Bitcoin began trading above $45,000, a nearly 3.5% spike in the last 24 hours alone.
Cramer cited the impending approval of a spot Bitcoin ETF as a driving factor prompting bullish expectations of the token, with the U.S. Securities and Exchange Commission (SEC) allegedly swamped with paperwork amidst a reported January 10th deadline.
Could Bitcoin’s recent gains become unraveled?
The “Mad Money” host also referred to the recent conviction of FTX fraudster Sam Bankman-Fried as an overall positive “clearing event” that stimulated the market.
However, Cramer also conceded the opposing view that Bitcoin’s gains could “all become unraveled.”
“Jamie Dimon has not spared any negative words,” CNBC anchor, David Faber, pointed out.
Most recently, Dimon came under fire by the crypto community for his December congressional testimony against the industry, stating that if he was in the U.S. government, he’d “close” the technology down.
“I’ve always been deeply opposed to crypto, Bitcoin, etc.,” Dimon stated at the time. “The only true use case for it is criminals, drug traffickers, money laundering, and tax avoidance.”
“This is a remarkable comeback that was unexpected”
Previously, Cramer touted similar views to Dimon, claiming he “would not touch crypto in a million years” while referring to those who had invested in the technology as “an idiot.”
However, last month Cramer told “Mad Money” viewers to “buy Bitcoin” if they so choose, claiming he himself “made a lot of money” from his own investment despite being “premature” to the market.
Cramer’s latest appearance on CNBC seems to confirm the “Mad Money” host has changed his tune on the crypto industry itself.
“This is a remarkable comeback that was unexpected,” said Cramer.
A number of users on social media, however, remain less than convinced about the accuracy of Cramer’s sentiments given his changing stance on the technology.
“Great, BTC going to zero,” one user commented on X,
“Well, pack it up boys,” another wrote. “It was a good run.”
Image Source: CNBC / YouTube
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