Jim Cramer, the host of CNBC’s Mad Money, recently emphasized that the first cryptocurrency is invincible. He commented on the hopes of investors who are eagerly awaiting the approval of spot bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC). The anticipation surrounding their potential approval has played a significant role in Bitcoin’s recent surge, leading Cramer to suggest that investors might liquidate their crypto assets in the near future.
Additionally, Cramer debunked the beliefs of billionaire and Berkshire Hathaway vice chairman Charlie Munger, who passed away recently at the age of 99. Munger has consistently claimed that most cryptocurrencies will eventually plummet to zero. He has labeled Bitcoin as everything from a faulty product to a contagious illness. However, Cramer argues that Munger failed to recognize all the advantages Bitcoin has to offer.
“This revolutionary technology cannot be eliminated… The late Charlie Munger, who was undeniably brilliant in many aspects, did not grasp this… Bitcoin is a technological marvel, and people are gradually realizing that it is here to stay,” Cramer affirmed.
It is worth noting that in November, Cramer admitted to making incorrect predictions about Bitcoin and retracting his advice for investors to sell their crypto assets.