Bitcoin’s recent price fluctuations have caught the attention of the crypto community, with the asset briefly dipping below $100,000 during the last week of January.
Amid the volatility, CNBC’s Mad Money host Jim Cramer stirred discussion with his comments on Bitcoin, adding a mix of optimism and uncertainty to the market.
On a recent episode of his show, Cramer urged investors to hold Bitcoin, calling it a valuable addition to any portfolio. “I own Bitcoin, you should own Bitcoin,” he emphasized.
However, he raised eyebrows by advising against investing in MicroStrategy, a major Bitcoin holder with over 417,107 BTC, without elaborating on his reasoning.
Cramer’s remarks reignited the “Inverse Cramer” phenomenon, a humorous market theory suggesting that his predictions often yield opposite outcomes. While some speculated that Bitcoin’s price might drop further, the asset defied expectations, rebounding after its earlier decline.
Currently trading at $102,750, Bitcoin has gained nearly 4% in the past 24 hours, recovering from a low of $97,795 earlier in the day. Despite ongoing volatility, the market remains cautiously optimistic about the cryptocurrency’s potential for further growth.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.
BlackRock is making another assertive move into digital assets, quietly expanding its crypto portfolio with sizable purchases of both Bitcoin and Ethereum.
In a move that signals changing tides in traditional finance, JPMorgan is preparing to accept Bitcoin ETF holdings as collateral for loans—starting with BlackRock’s iShares Bitcoin Trust, according to insiders familiar with the plan.