Jim Cramer Endorses Bitcoin As A 'Great Thing,' But Guess What He Had To Say About MicroStrategy

CNBC's “Mad Money” host Jim Cramer on Tuesday publicly endorsed Bitcoin BTC/USD, urging investors to include the cryptocurrency in their portfolios.

During a segment on Tuesday, Cramer stated, “If you want to own Bitcoin, (you) own Bitcoin… I own Bitcoin, you should own Bitcoin. Bitcoin is a great thing to have in your portfolio."

However, Cramer also warned investors against buying shares of MicroStrategy MSTR, the firm that holds over 471,000 Bitcoin, with a market value of more than $48 billion at current prices.

He did not provide any reasons for this specific advice.

MicroStrategy, led by Michael Saylor, has continued its aggressive Bitcoin accumulation strategy, adding to its holdings for twelve consecutive weeks and acquiring over 10,000 coins recently at an average of $105,596.

Cramer's pronouncements, however, are viewed by many with a grain of salt, due to his previous bearish calls on assets.

Also Read: How Donald Trump Could Make The Strategic Bitcoin Reserve A Reality

His picks often move in the opposite direction and he is perceived by many as an inverse indicator, a phenomenon so well known that it even inspired the creation of the “Inverse Cramer ETF” in 2022.

This ETF was designed to do the opposite of whatever Jim Cramer picked. The ETF was shut down in early 2024.

Cramer himself was notably bearish on Bitcoin as recently as January 2024, when he advised investors to exit the market, claiming that Bitcoin was likely topping out.

Since his advice, the price of Bitcoin has surged more than 100% and continues to rise, demonstrating how often the market moves in the opposite direction of his predictions.

Bitcoin is currently trading at just under $103,000, marking a 1.5% increase since Monday.

Read Next:

• Maple Finance CEO Sees Bitcoin Yield, AI, Cross-Chain As DeFi’s Next Frontier

Image: Shutterstock