The cryptocurrency community has been looking deeply into the Bitcoin (BTC) market as the asset has been exhibiting volatility. During the final week of January, the king coin was seen slipping below the $100,000 mark. Amidst this, CNBC’s Mad Money host dropped a bullish notion about the world’s largest cryptocurrency, sending most of its investors into panic mode.
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“You Should Own Bitcoin”
During his recent segment on the Mad Money show, Cramer was seen urging the community to hold BTC. Speaking to a caller on his show he said,
“If you want to own Bitcoin, (you) own Bitcoin. I own Bitcoin, you should own Bitcoin. Bitcoin is a great thing to have in your portfolio.”
JUST IN: Jim Cramer says "you should own Bitcoin, Bitcoin is a great thing to have in your portfolio." pic.twitter.com/HQFhRg4bpa
— Watcher.Guru (@WatcherGuru) January 28, 2025
While this doesn’t come as a major surprise to the community, he reportedly ended the call asking the caller not to buy MicroStrategy. He said, “But not MicroStrategy.” This left the market in doubt as Cramer did not elaborate on this comment. It should be noted that Michael Saylor’s MicroStrategy is one of the biggest holders of the king coin. The firm currently owns more than 417,107 Bitcoin.
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Is BTC a Victim of the ‘Inverse Cramer’ Effect Yet?
The development of a brief Inverse Cramer ETF in 2022 was prompted by a hilarious internet idea called “Inverse Cramer.” As a signal often linked to inverse bets, Jim Cramer’s selections frequently manage to move in the opposite direction over the long run. This caused the community to wonder if Bitcoin would record a downfall. On the contrary, the king coin was seen rising.
At the time of writing, Bitcoin was trading at $102,750.77 following a nearly 4% rise over the past 24 hours. It should be noted that BTC dropped to a low of $97,795.94 earlier today. But the asset has clearly recovered and is set to move upwards.
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