Jim Cramer From Mad Money Wants Cryptocurrency Traders To Oppose Him

In a tweet sent on Friday, Jim Cramer, the host of CNBC’s Mad Money programme, urged cryptocurrency investors to bet against him. Former hedge fund manager Cramer is a co-founder of the financial news and education website Thestreet.com.

Cramer then sent out another tweet regarding cryptocurrency. The Mad Money host then issued a challenge to cryptocurrency investors, saying, “I want you to gamble against me. I bought a farm with my bitcoin winnings and a boat with my ether gains. For 42 years, you don’t do this and lose money every year.

He wrote: “As always I encourage folks wagering against me” in a post about the Advanced Micro Devices stock (Nasdaq: AMD). I’ve been doing it for 42 years. Those who know me well understand that you would have wagered against AMD at $5, Apple at $5, Google since its creation, Meta at $18, Amazon at $10, Nvidia at $25, and Google since its foundation. Everyone is welcome here.

Cramer has been under fire from a lot of individuals for his suggestions that led to poor trades.

Cramer’s tweets came after Tuttle Capital Management filed prospectuses with the U.S. Securities and Exchange Commission (SEC) for the two exchange-traded funds (ETFs) Inverse Cramer ETF and Long Cramer ETF. According to the filing:

Prior to the collapse of her flagship fund last year, he complimented Cathie Wood, CEO of Ark Investment Management. Just before the price fell 30%, he tweeted a buy recommendation for AMC Entertainment Holdings. In April of last year, the host of Mad Money said, “We like Coinbase to $475.” Coinbase Global (Nasdaq: COIN) is now trading at $67 at the time of writing.

The Inverse Cramer ETF (the “Fund”) aims to deliver investment returns that are roughly the opposite of those of the assets that Jim Cramer, a television personality, recommends, before fees and expenses.

Additionally, Tuttle Capital Management previously introduced an ETF that bets against Cathie Wood’s stock recommendations.

In 2020, Cramer became interested in bitcoin after speaking with entrepreneur and investor in cryptocurrencies Anthony Pompliano, who persuaded him to purchase some BTC. Following that, the presenter of Mad Money started recommending investors to invest 5% of their portfolios in bitcoin. However, in June of last year, he decided to exchange his bitcoin for ether due to worries about the crackdown on bitcoin mining in China, ransomware assaults, and tether (USDT). He pleaded with cryptocurrency investors to withdraw profits a few months later. He claimed to have made a cryptocurrency investment in October, stating that “there may be millions of larger fools out there.” He predicted that bitcoin may drop to $12,000 in June of this year, and in August he suggested avoiding all speculative investments, including cryptocurrencies.

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