Market commentator Jim Cramer has tacitly admitted that he was wrong about Bitcoin (BTC) and said his call for investors to sell the cryptocurrency was premature.
November. twenty two part His CNBC I’m crazy about money During the show, Cramer responded to a caller asking about buying shares in Bitcoin miner CleanSpark and said anyone who likes Bitcoin should increase their investment in Bitcoin.
“Listen, if you like Bitcoin, buy Bitcoin. That’s always been my view. For a while, I liked it and I thought the money was made, but I was too early.”
Cramer added that despite not making perfect predictions about Bitcoin before, he still “made a lot of money” from investing in Bitcoin.
December 5, 2022 – Bitcoin trades at $17,150 – Cramer urge Investors are selling all their cryptocurrency investments regardless of cost, saying “it’s never too late to sell a bad position.” Since then, the price of Bitcoin has increased by 118%, with BTC currently changing hands for $37,390.
Cramers’ predictions, as well as his on-again, off-again love-hate relationship with cryptocurrencies, have become popular memes throughout the investing community over the past few years, with many pointing out his incredible ability to make the wrong decisions at crucial moments. Ability.
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In August 2022, a cryptocurrency trader claimed to have doubled the size of his portfolio simply by trading in the opposite direction of Cramer’s recommendations.
Two months later, on October 6, an investment fund filed for an “inverse Cramer ETF,” a financial instrument designed to return “trades that, before fees and expenses, are substantially the opposite of the investment results recommended by Cramer.” result”. Television personality Jim Cramer. “
It’s finally happening: Cramer ETF
Inverse Cramer ETF $SJIM
Long Cramer ETF $LIM
Effective December 1920-25 equally weighted stocks/ETFs based on Cramer’s Twitter & TV recommendations and market views. If Cramer has no view and once the profit target is reached, exit the position. pic.twitter.com/tY9yBMt15s
— Henry Jim’s ETF Hearsay (@ETFhearsay) October 5, 2022
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