Jim Cramer Says Bitcoin Is “A Great Thing To Add To Your Portfolio”

#cryptonews

During Monday night’s episode of CNBC’s Mad Money, host Jim Cramer advised viewers to consider adding Bitcoin to their portfolios rather than investing in MicroStrategy, a software company known for its extensive Bitcoin holdings.

“If you want to own Bitcoin, own Bitcoin,” Cramer said during the segment. “I own Bitcoin, and you should too. It’s a great addition to your portfolio, but not MicroStrategy.”

Cramer further noted that investing in MicroStrategy carries additional risks tied to its corporate operations, suggesting that direct Bitcoin ownership may be a more straightforward option for investors.

MicroStrategy, led by CEO Michael Saylor, is often viewed as a proxy for Bitcoin due to its significant cryptocurrency reserves, which align the company’s stock performance with Bitcoin’s price trends.

Following the collapse of FTX, the crypto exchange founded by Sam Bankman-Fried, Cramer declared that he “wouldn’t touch crypto in a million years,” citing concerns about the safety of deposits.

Cramer has faced criticism for his fluctuating views on cryptocurrencies.

Cramer’s Shifting Stance on Cryptocurrencies

In March 2023, Tuttle Capital Management launched the Inverse Cramer ETF (SJIM), designed to capitalize on this sentiment.

Although the ETF has since been shuttered, its creation highlights the skepticism surrounding Cramer’s market predictions.

Cramer has also developed a reputation as an inverse market indicator, with some investors betting against his financial advice.

Optimism surrounding regulatory clarity in the U.S. has fueled positive sentiment in the cryptocurrency market. Discussions about fair digital asset regulations have contributed to Bitcoin’s bullish momentum. MicroStrategy’s substantial Bitcoin holdings have also seen gains during this rally.

Bitcoin was trading around $102,000 as of Tuesday morning, following a sustained rally over recent months.

MicroStrategy and Bitcoin Price Trends