Jim Cramer recommends that his audience “just buy Bitcoin”
Investors are debating whether to put their money into crypto-related companies as the cryptocurrency industry as a whole becomes more positive and Bitcoin (BTC) regains the crucial $37,500 price level.
Jim Cramer, a well-known personality with strong opinions on cryptocurrency and financial markets, has spoken out on the current events.
Cramer gave the following response on the most recent edition of CNBC Lighting Round in response to a question about CleanSpark (NASDAQ: CLSK):
“Buy Bitcoin if you like it. I had always held that opinion, and I even loved it for a little time before deciding it was all about the money. I made a hasty decision, but it paid off.”
As part of what seems to be a growing trend in the other direction, Cramer’s remarks have ignited negative commentary about Bitcoin on YouTube.
Cramer told his audience on October 10 that the current circumstances offered “another good opportunity to exit the crypto market,” but his most recent remarks show that he has already reversed his stance.
But it’s worth mentioning that the main digital asset has had a stunning climb and is now trading at $37,337, thanks to Cramer’s cautious counsel.
According to the most current statistics, the first cryptocurrency asset was trading at $37,337 at the time of press, an increase of 2.40% from the previous week. However, despite this, it is still holding onto its 8.45% gain on the monthly chart.
Meanwhile, Bitcoin’s fundamentals are looking good: the price is trading above its 200-day moving average, and it had 17 trading days in a row last month.
Its price increased by 126% in a year, too, making it the best performer among the top 100 crypto assets by a wide margin.