From convert to Judas? – Jim Cramer sells his “play money” called Bitcoin
In his view, CNBC host Jim Cramer “did everything right” by selling off half of his Bitcoin investment.
Financial expert and TV host Jim Cramer, who had “converted” to Bitcoin in the past few months, has now become “Judas” by selling off a large part of his investment.
.@jimcramer little that he bought a lot of bitcoin when it was around $ 12K. He says he sold half of it to pay off his mortgage yesterday. “It was like phony money paying for real money … I think I won.” https://t.co/L909N1g6x0 pic.twitter.com/hfkzTmIdWl
– CNBC (@CNBC) April 15, 2021
As co-host Cramer revealed on his CNBC broadcast yesterday, he decided to “become a traitor”. A profitable business, however, because by selling half of his Bitcoin he was able to pay off the mortgage on his house.
Cramer, who also hosts the financial show Mad Money, says that he had made a large investment in the market-leading cryptocurrency when the price was trading at $ 12,000, which is why he now felt it was time to make a first part of the profits from the current one Book out record run. While the experts have a guilty conscience towards the crypto community in view of this decision, they are also delighted with this coup:
“I know people will be mad at me now, but I was able to use it to pay off my mortgage yesterday.”
“It was like buying real money with play money,” Cramer smirks. He adds effusively: “I now own a house, in black and white, because I bought this currency. I think I did everything right! ”
A Twitter user, however, dampens the joy a little by pointing out that it may come too quickly by pointing out that a crypto investor from the early days of Bitcoin paid almost 10,000 BTC for a pizza, which is true at today’s prices turns out to be a bad mistake.
The “Judas” Jim Cramer himself was a heavy critic of Bitcoin for a long time, but after extensive discussions with the crypto expert Anthony Pompliano, the CNBC moderator decided last September, Investing $ 500,000 in Bitcoin. Later he even considered 1% of his total assets in the amount of 150 million US dollars to invest in the cryptocurrency.
At that time, Bitcoin was still between 10,000 and 12,000 US dollars, whereas it is now at a rate of 63,000 US dollars. The price of the crypto market leader has gained a whopping 425% in these six months.
The football player Russell Okung, who is also a big Bitcoin fan, is not very pleased about the alleged betrayal of Cramer, and therefore calls on Pompliano to take it to his chest:
– russ (@RussellOkung) April 16, 2021
In December, the former skeptic announced that he had bought again at $ 17,000.
On March 22nd of the new year, the TV presenter was then in Podcast by Anthony Pompliano as a guest to thank him for his persuasiveness, because Bitcoin’s record run made it a worthwhile investment for him. However, in the course of this, he announced that he “will never touch” his Bitcoin. A promise that Cramer has broken in less than a month.
Although the expert, known as the “joker”, does not quantify exactly how high his Bitcoin fortune is, it could now amount to 2.4 million US dollars in view of the price development since his investment.
Selling only 50% after a 5x gain doesn’t sound toooo silly.
– dave the wave (@davthewave) April 16, 2021