Bitcoin (BTC) has been among the best-performing assets of the last decade. However, the original cryptocurrency has its fair share of non-believers. Most famously, Jim Cramer, host of CNBC‘s Mad Money show, advised investors to sell their Bitcoin in April of this year. At the time, BTC was trading for around $24,000. Cramer’s comments came right after the cryptocurrency market began to generate steam in March. Since Cramer’s April comment, the original cryptocurrency is up by over 80%.
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Furthermore, when BTC was near $17k in January, Cramer stated it was a “good chance again to get out of crypto.”
Since its January lows, BTC is up by over 160%. Cramer’s views on BTC have given birth to the “inverse Cramer” joke. Investors buy an asset every time the Mad Money host asks to sell.
Does Jim Cramer not like Bitcoin at all?
Cramer has often taken a negative stance on BTC. Around two months ago, he famously stated, “Mr. Bitcoin is about to go down big.“
However, this was not the case. BTC began to generate steam shortly afterward.
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Despite the negative comments about BTC, Cramer had some positive inputs in a recent talk. Cramer stated, “If you like Bitcoin, buy Bitcoin. That has always been my view, and for a while, I liked it, and then I decided that money had been made. I acted premature, but money has been made.”
Regardless of what people may say, there is no denying BTC’s stellar performance as a hedge. The cryptocurrency has outperformed every significant stock and commodity, and its value may only keep rising. Many have predicted BTC’s price to hit six figures by the end of the decade, if not sooner. Moreover, analysts anticipate a bull market for the cryptocurrency sector, fueled by BTC’s halving event and the possibility of a spot BTC ETF (Exchange Traded Fund).