Jim Cramer: Bitcoin can’t be killed, it’s here to stay
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Economic analyst Jim Cramer asserts that as Bitcoin surges past $45,000 as a spot Bitcoin ETF is approved, recent resilience and technical strength point to its durability.
He confidently stated that “you can’t kill Bitcoin” and emphasized its permanence, declaring that it “is here to stay.” Cramer further praised Bitcoin (BTC) as a “technological marvel” for its persistence despite the challenges it faces.
Cramer’s comments come against the backdrop of Bitcoin’s recent surge above $45,000, a milestone not reached since 2022. The expected approval of a spot Bitcoin ETF, expected in 2022, is seen as a potential catalyst that could drive the price of the cryptocurrency further higher. As early as next week.
Cramer’s optimism stems from the extraordinary resilience Bitcoin has shown over the past year, even in the face of regulatory scrutiny from entities like the U.S. Securities and Exchange Commission (SEC) and its chairman, Gary Gensler. Cramer’s belief in Bitcoin’s longevity contrasts with the skepticism expressed by some prominent figures, including the late Charlie Munger.
Despite Jim Cramer’s bullish stance on Bitcoin, the reverse Cramer theory suggests caution. Some investors may interpret Cramer’s optimism as a contrarian indicator, raising concerns that the market is overheating. According to this theory, when Cramer expresses confidence, it could prompt a shift in sentiment, with investors turning bearish and selling their positions.
