Renowned American financial pundit Jim Cramer recently admitted on his show that his previous views on Bitcoin were incorrect, believing that he had called for investors to sell cryptocurrencies too early.
Cramer, on Wednesday (22nd), responded to a caller inquiring about buying stocks of Bitcoin mining companies on CNBC, stating that anyone who likes Bitcoin should increase their exposure to it. He said, “Even though my previous judgment on Bitcoin was not perfect, I still made ‘a lot of money’ from investing in Bitcoin.”
On December 5, 2022, when Bitcoin was trading at around $17,150, Cramer urged investors to sell all their cryptocurrency investments regardless of cost, stating that “selling bad positions is never too late.” A month later, the price of Bitcoin began its rally for the year, surging nearly 118%. As of the deadline, the price of Bitcoin was around $37,510.
Bitcoin price trend since December 2022, source: TradingView.