With the recent development in the crypto industry, financial and investment experts have expressed optimism about the future of the best-performing digital assets such as Bitcoin.
In a December 2 interview on CNBC Mad Money, the host of this program Jim Cramer expressed his positive stance on the future of Bitcoin. For a long time, Cramer has been against crypto assets and publicly condemned Bitcoin.
Bitcoin Sustains Strong Uptrend
Despite his anti-crypto sentiments, Cramer admitted, “You can’t kill Bitcoin.” Having gained vast experience in financial matters, the 68-year-old investor reevaluated the enormous potential of Bitcoin.
In his address, Cramer argued that even the greatest investors of all time, such as Charlie Munger and Warren Buffet, failed to seize opportunities offered by Bitcoin. He regretted that despite gaining global recognition as the best investor, Mr.Munger failed to invest in Bitcoin.
Based on the dynamism of the financial sector, Cramer advised young people and borrowers to be vigilant in making financial decisions. He regrets that the young people borrowing funds will be gone if they fail to be extra careful.
With the increasing demand for Bitcoin, Cramer described the world’s largest crypto asset as a technological marvel. He was pleased to state that the uniqueness of Bitcoin positions the digital asset at a competitive edge to command a high price.
Beyond this, Cramer admitted that Bitcoin is real and no one can shut it down. He stated that despite the strict regulatory approach on digital assets enforced by the US Securities and Exchange Commission (SEC), the regulators cannot shut Bitcoin down.
Jim Cramer Describes Bitcoin as Technological Marvel
Even though the SEC has been against Bitcoin for the longest time, Cramer admitted that BTC is here to stay. He advised the investors to redirect their focus on Bitcoin and explore the opportunities offered by the largest crypto by market capitalization.
The media personality clarified that his bullish stance on Bitcoin does not translate to the entire crypto market. This implies that not all crypto assets are here to stay. Cramer admitted that he has been monitoring crypto for the longest time.
The financial advisor confessed his enthusiasm for BTC rose after Bitcoin surpassed the $38K mark in November. Even though his prediction on the Bitcoin movement sparked speculations among the crypto community, Cramer remains optimistic that BTC will maintain a solid upward trajectory.
Overview of BTC Price Movement
Interestingly, Cramer’s prediction materialized on January 1 after Bitcoin prices broke the $45,000 mark. According to CoinMarketCap, Bitcoin established an early-year rally to reach $45,000 at the beginning of this trading year.
After the impressive uptrend of Bitcoin, the price of BTC gained a dribbling momentum, trading at $43K on Thursday, January 4. The drop in the BTC price has commanded an increased selling pressure for Bitcoin, especially the daily trading volume rising by 53% to reach $47 billion.
