Bitcoin Bull Run Over? Jim Cramer Says to Own Bitcoin

As Bitcoin’s price continues to capture the attention of many in the financial sector, some formerly pessimistic individuals are beginning to show interest in the leading crypto asset.

CNBC’s Mad Money host Jim Cramer is one such individual to make this move. During a call on his show with an MSTR holder, he stated that Bitcoin is a better investment choice than MicroStrategy’s stock, MSTR.

“[MicroStrategy’s stock] is a Bitcoin player. I prefer to actually own Bitcoin. [. . .] All I can tell you is, own Bitcoin. That’s a winner,” Cramer said.

This statement sparked humor and fear among investors across social media. Here’s why.

Jim Cramer and Bitcoin

For years, Cramer has repeatedly switched sides between being pessimistic and optimistic about Bitcoin.

In April 2021, he offloaded portions of his BTC stash to pay a mortgage, calling it “phony money.” Two months later, he sold most of his BTC holdings, adding that the digital asset would see more price drops. In November 2021, the apex cryptocurrency attained $68,000, a price peak at the time.

In October 2023, he stressed that BTC was going to go down big. In January, however, the digital asset significantly soared following the spot Bitcoin exchange-traded fund (ETF) approval in the United States.

A similar trend has been occurring with most of Cramer’s stock tips, where prices go in the opposite direction from what he projects. His reputation as an inaccurate stock picker has earned him the title — Inverse Cramer — in the financial sector.

Is the Bitcoin Bull Party Over?

With Cramer’s latest tip about owning BTC, crypto community members on X worry that the leading crypto asset may not see further price gains until the next bull season. This has made many wonder if the coin’s top has already been attained.

Earlier today, BTC attained an all-time high (ATH) of over $99,400. Interestingly, this price is a few hundred dollars away from $100,000, a price many in the crypto industry have looked forward to. Some X users still wish for BTC to hit $100,000 before the “Cramer effect kicks in.”