Jim Cramer Sold Bitcoin, Price Increased by 27 Percent
Jim Cramer, the host of Mad Money, sold all of his bitcoin in early August after warning about the risk of cryptocurrencies being broken by quantum computers. At that time, the price of bitcoin was around $62,300, but it subsequently rose to approximately $79,500, representing a 27 percent increase in less than three weeks. Cramer's recommendation to sell came at an inopportune time, as the rise in bitcoin was supported by inflows into exchange-traded funds and the announcement from the U.S. Treasury Department regarding the expansion of bond buybacks. On August 20, Cramer advised a viewer to buy bitcoin, which contrasted with his previous sale. Two days later, on August 22, bitcoin experienced its sharpest drop since the fall of 2025, with $108 billion disappearing from the market in six minutes. Even after this drop, bitcoin was trading around $77,000, suggesting that it was more of a correction. A phenomenon known as 'the Cramer Effect' has become popular, with an ETF in the U.S. betting on the exact opposite of his recommendations.
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