Television host Jim Cramer is known for his outlandish takes on the stock market and his often back-and-forth recommendations that can quickly change day to day and week to week. Cramer has also provided the same back-and-forth recommendations on the cryptocurrency sector in recent years.
Here’s a look back at one of Cramer’s warning calls against cryptocurrency in 2022 and how you could’ve profited betting against him.
What Happened: Throughout 2024, Cramer has provided mostly bullish commentary on major cryptocurrencies like Bitcoin BTC/USD and Ethereum ETH/USD, suggesting there is room in portfolios for crypto exposure.
The bullishness is likely helped by the approval of Bitcoin ETFs in 2024 and the new White House administration creating optimism for Bitcoin and cryptocurrency overall going forward.
Cramer was one of many television personalities who dunked on cryptocurrency as the sector struggled with a series of bankruptcies and very public negative catalysts like the collapse of FTX and arrest of Sam Bankman-Fried.
On Dec. 23, 2022, CNBC host Cramer once again criticized the cryptocurrency market and gave a warning to anyone who was investing in the sector. The comments came as it was announced that FTX co-founder Sam Bankman-Fried had been released from jail on $250 million bail.
Cramer said the SEC should be more involved in the cryptocurrency market, noting that when investors look at a filing of a stock, they know who owns it, whereas with cryptocurrency, investors don’t know who owns them.
The CNBC host previously owned cryptocurrency before selling all of it, a decision he said he announced on television and doesn’t regret.
“I would not touch crypto in a million years,” Cramer said during the Dec. 23, 2022, broadcast.
Cramer said the cryptocurrency sector has fought regulation and investors often see losses of their money.
“I like to have my money at JPMorgan and I check on Monday to see whether my balance is there.”
Cramer said the same can’t be said for cryptocurrency due to volatility and from his personal experience it can be tough to get your money out.
An on-screen graphic showed the prices for Bitcoin, Ethereum, Solana SOL/USD, Litecoin LTC/USD and the cryptocurrency exchange Coinbase Global COIN.
The chart and names of several of the cryptocurrencies prompted an angry rant from Cramer.
“I do think you’re an idiot. I did not go to college to get stupid. These people who own these things should not own them.”
Cramer went on to say that cryptocurrencies are the “creation of money by cretins.”
“These are worse than even the worst Nasdaq stocks.”
When Cramer made his argument in December, investors could have purchased the individual cryptocurrencies and Coinbase stock themselves.
Investing $1,000 in Crypto: An investor who went against Cramer’s advice on Bitcoin and invested in the leading cryptocurrency on Dec. 23, 2022, would likely be smiling today.
A $1,000 investment at the intraday high could have purchased 0.0592 BTC. The $1,000 investment would be worth $5,577.76 today based on a price of $94,218.86 at the time of writing. This marks a return of +457.8% over the last two years.
The same $1,000 invested in the SPDR S&P 500 ETF Trust SPY, which tracks the S&P 500 stock market index, would be worth $1,539.51 today. This marks a return of 54.0% over the last two years.
Each of the four cryptocurrencies and cryptocurrency platform Cramer criticized are up over the last two years with all but one beating the S&P 500. Here’s a look at the returns for the other assets based on a $1,000 investment:
- Ethereum: 0.8150 ETH, $2,764.70 today, +176.5%
- Litecoin: 15.15 LTC, $1,528.79 today, +52.9%
- Solana: 82.78 SOL, $16,090.78 today, +1,509.1%
- Coinbase: 27.79 COIN, $7.076.45 today, +607.6%
Here’s a look at if an investor split the $1,000 evenly among the five assets shown to Cramer.
- Bitcoin: $1,115.55
- Ethereum: $552.94
- Litecoin: $305.76
- Solana: $3,218.16
- Coinbase: $1,415.29
- Total: $6,607.70, +560.8%
The $1,000 investment would be up 560.8% over the last two years, significantly beating the S&P 500 and showing that the people who Cramer once called idiots may not be so dumb after all.
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This article was previously published by Benzinga and has been updated.
Photo: Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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