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- Put 5% of your portfolios in bitcoin – Jim
- BTC Price at the time of writing – $19,334.13
- According to him, bitcoin could fall to $12,000
Jim Cramer, the host of Mad Money, has asked crypto investors to bet against him. He stated that you don’t do this for 42 years and lose money every year.
His statement came after the Inverse Cramer ETF” filed paperwork with the Securities and Exchange Commission (SEC). To Crypto Investors, Jim Cramer: Bet Against Me In a tweet on
Cramer is a former hedge fund manager who co-founded Thestreet.com
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Friday, Jim Cramer, host of CNBC’s Mad Money show, asked cryptocurrency investors to bet against him. Cramer, a co-founder of the financial news and literacy website Thestreet.com, is a former hedge fund manager.
Following that, Cramer sent a second tweet about crypto. The host of Mad Money then put crypto investors to the test, noting that he bought a boat and a farm with bitcoin profits. You should back him, he wants you to.
Cramer has been the target of a lot of criticism for making recommendations that led to losing trades. He praised Ark Investment Management CEO Cathie Wood last year just before the collapse of her flagship fund.
Additionally, just prior to the stock’s 30% decline, he tweeted a buy recommendation for AMC Entertainment Holdings. The host of Mad Money also stated in April of last year that they recommend Coinbase at $475.At the time this article was written, Coinbase Global is currently worth $67.
ALSO READ: A list of the most anonymous cryptocurrencies
Inverse Cramer ETF’ Prospectus Filed With SEC
Cramer’s tweets came after Tuttle Capital Management filed a prospectus with the U.S. Securities and Exchange Commission (SEC) for two exchange-traded funds (ETFs) called Inverse Cramer ETF and Long Cramer ETF.
The document explains that the objective of the Inverse Cramer ETF (the “Fund”) is to provide investment outcomes that are roughly in opposition to the outcomes of the investments that are suggested by television personality Jim Cramer, before fees and expenses.
Additionally, Tuttle Capital Management previously introduced an ETF that bets against Cathie Wood’s stock pick. In 2020, Cramer spoke with crypto investor and entrepreneur Anthony Pompliano, who persuaded him to buy some BTC.
As a result, Cramer became a fan of bitcoin. The host of Mad Money then started recommending to investors that they invest 5% of their portfolios in bitcoin. However, in June of last year, he exchanged his bitcoin for ether due to concerns regarding the Chinese bitcoin mining crackdown, ransomware attacks, and tether (USDT).
He begged crypto investors to take profits a few months later. He stated in October that there could be millions of greater fools out there when he invested in crypto. He predicted that bitcoin could fall to $12,000 in June of this year, and in August, he advised completely avoiding crypto and other speculative investments.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
