Bitcoin has reached its peak, and further growth seems unlikely, according to former hedge fund manager of Cramer & Co and Mad Money host Jim Cramer.
?BREAKING: Jim Cramer is bearish on #Bitcoin pic.twitter.com/CW0aNXu0zp
— LunarCrush (@LunarCrush) March 6, 2024
The statement followed the cryptocurrency’s update to its ATH and subsequent drop to $59,000.
The Bitcoin skeptic jested about MicroStrategy founder Michael Saylor, who promised never to sell the asset.
Hi, my name is Jim Cramer and I called #Bitcoin a scam and told everyone to sell at $24,000.
Bitcoin has since hit a new all-time high.
— Watcher.Guru (@WatcherGuru) March 5, 2024
Cramer may have reacted to the company’s intention to raise $600 million in bonds to increase its position in digital gold.
In response, Watcher.Guru recalled Cramer’s unfulfilled predictions.
“Hi, my name is Jim Cramer, I called Bitcoin a scam and advised everyone to sell at $24,000. Since then, the price has reached a new record level,” the publication wrote.
Back in January 18, the television host described the first cryptocurrency’s price drop as an “unpleasant start to a sell-off.”