Jim Cramer’s Background
Jim Cramer is the host of the CNBC shows “Mad Money w/ Jim Cramer” and “Squawk on the Street”. He is a co-founder of the financial news website TheStreet and has a career in finance managing his own hedge fund and working at Goldman Sachs.
Cramer’s Analysis of Bitcoin’s Rally
On January 2, during a conversation on CNBC’s “Squawk on the Street”, with Bitcoin trading at $45,658, Cramer stated that Bitcoin’s rally to this level had been driven by the calmness in the market following the collapse of FTX and the optimism over the potential approval of spot Bitcoin ETFs by the U.S. SEC.
Takeaways from Cramer’s Comments
In his comments, Cramer expressed the belief that an ETF for Bitcoin is inevitable, and that the technology behind Bitcoin is a marvel. His comments represented a change of position from earlier negative comments he made about Bitcoin.
Hot Take
Cramer’s recent comments show a marked shift in his opinion of the crypto market and Bitcoin. This may indicate increasing mainstream acceptance of the asset class and further growth potential for Bitcoin.
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