Jim Cramer has urged investors to consider adding crypto assets such as Bitcoin and Ethereum to their investment portfolio. Although his remarks are largely positive, they have sparked a wave of criticism as crypto enthusiasts feared the inverse crammer effect may come into play.
The host of the American finance CNBC television program Mad Money, Jim Cramer, expressed his bullish sentiment on crypto. During a recent Mad Money show, the host urged investors to consider Bitcoin and Ethereum, as well as other digital assets, as part of their investment portfolio.
Jim Cramer endorses crypto investments as a protection for investors
Jim Cramer recommends $BTC, $ETH, and maybe other cryptocurrencies in your portfolio.
WE ARE GOING TO FKING ZERO
— legen (@legen_eth) November 27, 2024
Jim Cramer explained that digital assets possess a potential value that deserves a place in financial strategies. He also said that crypto assets may become appealing to investors who want to buy assets that can protect them from the “government’s busted budget” in the future.
Cramer’s view on digital assets sheds light on the recent transformations that have befallen the crypto market from institutional investors, especially after the U.S. elections on November 5th. The host has continuously endorsed the digital asset ecosystem as an investment vehicle for long-term holders.
However, his relationship with the crypto industry has not always been linear. Whenever the media personality predicts a trajectory on digital assets, something interesting happens, and the world inverts. For instance, he advised investors to sell during the downturn in late 2022, citing concerns over market instability.
He told investors it is never too late to sell an awful position, and that’s what they had at the time if they owned these “so-called” digital assets. At the time, Bitcoin was trading at $16k. Since then, Bitcoin has rallied to new all-time highs and came inches away from tagging the $100k mark.
Cramer’s critics often highlight these scenarios that have added to his collection of misfires in the digital asset ecosystem. His recent comments about urging investors to include digital assets in their investment portfolio sparked a wave of concern among crypto enthusiasts.
Bitcoin falls by 8% from ATHs after Cramer calls the asset a winner
Last week, Cramer said, “All I can tell you is own Bitcoin. That’s a winner.” Bitcoin is down 8% from its all-time high since the TV host commented. One X user expressed concerns over Cramer’s bullish comments on Bitcoin and the entire crypto market. The user called out Cramer for the positive comments that followed the BTC price dip soon, causing the investor to lose money.
Another user cited Cramer’s recent Bitcoin and Ethereum recommendation and said digital assets are going to zero, implying an imminent crypto market collapse. Cramer’s inverse predictions have fueled the inverse Cramer meme online as well as the inverse crammer trading strategy.
On 6th June 2023, Cramer posted on X that he had it with Solana. The comments came after Solana’s market cap declined from $66 billion to $8 billion. According to data from CoinMarketCap, Solana’s market cap has grown to $111 billion and claims the fourth position among the top largest crypto projects as of this writing.
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