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Jim Cramer issues blunt warning, predicts next Bitcoin bottom
Every time Jim Cramer writes something on the markets, I am curious to read it regardless of how much criticism he faces.
A well-known figure on Wall Street, Cramer is a former hedge fund manager who now hosts "Mad Money" and "Squawk on the Street" on CNBC.
No matter how much he is attacked for his views, he doesn't hesitate to share what's on his mind. So when he issues a blunt warning after the Bitcoin (BTC) crash, I know it is crucial to understand his perspective.
On Jan. 31, Bitcoin crashed below $80,000 in the worst price drop since April 2025. In fact, the leading cryptocurrency fell as low as $74,591.71 on Feb. 1.
Saylor used the opportunity to take a dig at Bitcoin enthusiast and Strategy co-founder and executive chairman Michael Saylor.
Related: Jim Cramer delivers blunt Bitcoin warning amid Greenland tensions
Jim Cramer takes a big at Michael Saylor
Saylor is well-known for his bullish support for the leading cryptocurrency regardless of the ups and downs. He co-founded MicroStrategy as a software company in 1989.
When he encountered Bitcoin during the coronavirus pandemic in 2020, he decided to acquire it to add to the company's balance sheet. Last year, the company got rebranded to Strategy.
It is now the world's largest digital asset treasury (DAT) dedicated to Bitcoin. The way other publicly listed companies hold cash or other assets on their balance sheets, a DAT holds cryptocurrencies like Bitcoin on its balance sheet.
The crash last week didn't deter Strategy from buying Bitcoin. During Jan. 26-Feb. 1, the company bought 855 BTC worth $75.3 million.
On Feb. 2, Cramer wrote an X post in which he asked if Saylor has "any dry powder," wondering if the Strategy co-founder has enough liquid cash to acquire more Bitcoin.
Well, Saylor certainly bought BTC last week.
Nonetheless, Cramer called on "Saylor and his acolytes" to make BTC rise from the $77,000 range to at least $83,000 by Feb. 7.
More News:
Jim Cramer reveals next Bitcoin bottom
In another post, Cramer cited strategist Jessica Inskip to argue that the next support level for Bitcoin lies near $73,000.
He earlier said the weekend crash demonstrated the crypto asset's "unreliability" to act as a "currency."
Bitcoin was trading at $78,771.20 at the time of writing.
This article has been published in thestreet.com via Yahoo News.
Jim Cramer issues blunt warning, predicts next Bitcoin bottom
Every time Jim Cramer writes something on the markets, I am curious to read it regardless of how much criticism he faces. A well-known figure on Wall Street, Cramer is a former hedge fund manager who now hosts "Mad Money" and "Squawk on the Street" on CNBC. No matter how much he is attacked for...
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