FameEX Hot Topics | 'Mad Money' Host Jim Cramer Declares 'Bitcoin Is Reaching Its Peak'

Jim Cramer, host of CNBC's "Mad Money," recently opined that bitcoin might be reaching its peak. This observation came amid a significant uptick in the crypto market, with bitcoin surpassing $47,000. Cramer, who is also a former hedge fund manager and co-founder of Thestreet.com, a financial news website, acknowledged bitcoin's resilience and technological innovation, stating, "It's a technological marvel, and people have to start recognizing that it's here to stay."

During Mad Money’s Lightning Round on Monday, Cramer responded to an inquiry about cryptocurrency-related stocks like Riot Platforms and Marathon Digital. He advised investors directly interested in bitcoin to invest in the cryptocurrency itself rather than in related companies. 

Bitcoin's recent price surge is largely attributed to the anticipation of the U.S. Securities and Exchange Commission (SEC) approving spot bitcoin ETFs. The decision, expected to significantly impact the cryptocurrency market, has heightened investor interest. Last week, Cramer commented on bitcoin's durability in response to criticisms by figures like the late Charlie Munger, Warren Buffett’s longtime partner. Cramer emphasized the need to recognize bitcoin’s permanence and impact as a technological breakthrough.

Interestingly, the “Cramer effect” has become a known phenomenon in the crypto community, where market movements often contradict Cramer’s predictions. Following his latest remarks on bitcoin's peak, social media reactions varied, with some users humorously suggesting that this could signal a further price surge for bitcoin.

Cramer has had a fluctuating stance on cryptocurrencies. In March 2021, he recommended allocating 5% of one's portfolio to bitcoin but later sold his holdings due to concerns over ransomware attacks and China’s crackdown on bitcoin mining. 

Cramer’s views on bitcoin and the broader crypto market reflect the complex and evolving nature of cryptocurrency investment, where technological advancements, regulatory developments, and market sentiment all play critical roles.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.