CNBC’s Mad Money anchor Jim Cramer is gloomy on cryptocurrencies, countering another hedge funder’s optimism, underscoring crypto uncertainties.
Tuesday night, Jim Cramer, the anchor of CNBC’s Mad Money and a former hedge fund manager, stuck to his previous gloomy position on cryptocurrencies, which was in sharp contrast to what another hedge funder had said on the network earlier in the day.
“I cannot part with gold as it is unsound; I cannot part with bitcoin (BTC) as I cannot be in an environment where Mr. Bitcoin is on the verge of a significant decline,” Cramer stated.
Though it’s unclear if Cramer was referring about bitcoin in general or the trial of Sam Bankman-Fried specifically, it was clear that he was negative.
Despite being much below its peak of $68,000 during the 2021 bull market, bitcoin has increased in value by 68% from the beginning of the year.
Following China’s ban on cryptocurrency miners, Cramer had earlier said in June 2021 that he had sold the majority of his bitcoin assets. Around the same time, he also stated that bitcoin has structural problems and that its price will probably drop even further.
In an earlier appearance on CNBC on Tuesday, billionaire hedge fund tycoon Paul Tudor Jones stated that he is a lover of both gold and bitcoin because of the combination of growing levels of U.S. government debt and significant geopolitical danger.
