It is better to buy Bitcoin than shares of MicroStrategy. This advice comes from former hedge fund manager of Cramer & Co and host of Mad Money, Jim Cramer, reports The Block.
“If you want to hold the first cryptocurrency, hold it. I have digital gold. […] It’s a great asset to have in a portfolio. Not MicroStrategy,” he explained.
From January 21 to 26, the mentioned company acquired 10,107 BTC for ~$1.1 billion at an average of ~$105,596, increasing its Bitcoin reserves to 471,107 BTC.
Since August 2020, MicroStrategy has invested $30.4 billion in the first cryptocurrency, with an average purchase price of ~$64,511 per coin.
MicroStrategy accounts for 76% of the Bitcoin reserves of public companies and 2.24% of the digital gold supply.
BTC-ETF issuers have acquired 1.325 million BTC (6.3%). Nearly half of this amount is held in BlackRock’s IBIT wallets.
In March 2024, media reminded of Cramer’s unfulfilled predictions. Previously, the host called Bitcoin a scam and recommended selling it when the price reached $24,000.
Spring of the previous year was no exception, when Cramer doubted the continued growth of digital gold.
In December, another former skeptic of the first cryptocurrency, billionaire Ray Dalio, called the asset “hard money.” A year earlier, the expert admitted to owning Bitcoin but preferred gold.