Cramer: Bitcoin is ‘here to stay’ after ‘remarkable comeback’
Jim Cramer, the famous TV financial advisor, has changed his tune on Bitcoin, stating that he now believes “you can’t kill it” following its recent surge. While Cramer has historically been skeptical of the cryptocurrency due to regulatory scrutiny in the US, he has softened his position over the past year. He referenced Charlie Munger, former vice chairman of Berkshire Hathaway, who was critical of Bitcoin but failed to recognize its potential. Cramer acknowledged that Bitcoin is a technological marvel and that people need to accept that it’s here to stay, despite the SEC’s opposition.
Bitcoin’s unexpected comeback
Bitcoin’s recent surge has surprised many, with its price rising from below $17,000 a year ago to over $45,000 today. This increase in value has been driven by the expectation that major financial players like BlackRock and Grayscale will soon have their spot Bitcoin ETFs approved. Cramer described this as a remarkable comeback that even the bullish investors didn’t anticipate. The cryptocurrency market is experiencing another bull run, signaling the continued growth and importance of digital assets.
About the author
RT Watson is a senior reporter at The Block covering various topics such as US-based companies, blockchain gaming, and NFTs. Previously, he covered entertainment at The Wall Street Journal and corporate news in Brazil at Bloomberg. With a master’s degree in Digital Sociology, RT has interviewed a wide range of individuals from CEOs to convicted criminals.
Hot Take: Bitcoin’s Resilience Shocks Critics
Bitcoin’s recent resurgence has silenced skeptics and proven its staying power in the financial world. Jim Cramer, a once-skeptical TV financial advisor, now acknowledges the cryptocurrency’s technological marvel and its potential for long-term success. Despite regulatory challenges, Bitcoin has shown remarkable resilience and unexpected growth, with its price surging from below $17,000 to over $45,000. This surge has been fueled by expectations of major financial institutions embracing Bitcoin through the approval of spot Bitcoin ETFs. The ongoing bull run in the crypto market further solidifies Bitcoin’s position as a significant asset class. Its ability to defy expectations and continue thriving makes it a force to be reckoned with.
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