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

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Julia Smith

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Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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Jim Cramer, Bitcoin, MicroStrategy

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.”

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.

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.

Cramer’s Shifting Stance on Cryptocurrencies

Cramer has faced criticism for his fluctuating views on cryptocurrencies.

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.

However, his opinions have since softened, as evidenced by his latest endorsement of Bitcoin.

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

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’s comments about Bitcoin sparked a flurry of reactions on social media. Some users humorously suggested that Bitcoin’s rally might reverse following his endorsement.

One user on X joked, “Well, the early year crypto boom was fun, but the prophecy has now been told. It’s so over bitcoin bros.” Another added, “Jim Cramer endorsing Bitcoin… We’re doomed. Pack your bags, it’s over.”

Jacob King, CEO of Whale Wire, tweeted, “Jim Cramer is urging his millions of viewers on CNBC to buy into Bitcoin today. It literally couldn’t be more obvious that BTC has peaked and is about to enter its multi-year bear market.”

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

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.

While the company’s stock performance benefits from Bitcoin price surges, Cramer’s comments suggest he views direct Bitcoin ownership as a better option for investors.

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