- Jim Cramer expressed frustration on “Mad Money” over claims that his crypto endorsements caused market drops.
- He dismisses the significance of Crypto Twitter reactions but it appears their comments bother him.
- Cramer says he has maintained cryptocurrency holdings as a hedge against government debt.
- Despite criticism, Cramer continues to advocate for Bitcoin, emphasising its all-time high performance.
We need to talk about Jim Cramer, the enigmatic CNBC host who is a controversial figure, to say the least. As ‘Inverse Cramer’, his word carries weight, albeit usually with people bettings against his advice.
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But now it seems Cramer himself is a little upset and needs to talk. Speaking on his show ‘Mad Money’ he recently took a swipe at the crypto community for being a “bunch of yahoos” and criticising Cramer.
A Bunch of Yahoos on X, or Twitter, or Whatever
He told his viewers that he was unhappy about allegations he had caused a drop in Bitcoin.
I got a bunch of yahoos saying I called the top in crypto by recommending it.
Jim Cramer
He quickly added that he doesn’t even care about what people say on Crypto Twitter – despite clearly being upset by it and speaking about it at length.
First, I need to say that I typically do not read the comments on Twitter, or X, or whatever it is. I have pretty thick skin.
Jim Cramer
But, Cramer also said he has held crypto for a long time, mainly as a hedge against increasing government debt and the inability, or unwillingness, to do anything about it.
One user on X (or Twitter, or whatever) said that Cramer’s rant basically means that the ‘Inverse Cramer’ narrative has now lost its power, which should send crypto higher.
Now that he’s acknowledged his power, he’s lost all influence. Higher.
— Terpytimes (@terpytimes) November 28, 2024
Another pointed out that Cramer’s reach to a huge audience and his de-facto recommendation of Bitcoin and Ethereum can only be bullish for crypto.
Even if you don’t like Cramer, he has a massive audience of non-crypto investors and he just told them they should have #Bitcoin and #Ethereum in their portfolio ????
— BS Investing (@BSinvestingDoc) November 28, 2024
Cramer Calls Top, Cops Heat, as 100K BTC Was in “The Bag”
Cramer’s outburst comes after Bitcoin was on the brink of reaching the magical US$100k mark earlier this week. BTC made a new all-time high on 23 November at US$99,655 (AU$153,165) and has been struggling to gain momentum since.
Cramer must have truly felt guilty for stopping the rally so close to the goal, which Bloomberg Senior Analyst Eric Balchunas called “dramatic timing”. Balchunas added that this (the $100k) “was in the bag, could practically taste the champagne, like Brady stealing SB vs Atlanta. Stuff legends are made of”.
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Cramer meanwhile ended up saying that he won’t read the comments anymore – yeah, sure, Jim.
I’ll go ahead, I’m gonna call the top by recommending it yet again. Weird how I’ve been recommending gold and Bitcoin for so many years and yet they’re both at [their] all-time highs. And I take heat anyway? I’ll go back to not reading the comments. It ain’t worth the aggravation.
Jim Cramer
Aaron Feuerstein
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