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Host Jim Cramer has recommended buying Bitcoin directly just weeks after saying he planned to sell his own holdings over concerns about quantum computing. The latest comments came during the August 20 episode of Mad Money, when a caller asked about Ether treasury company BitMine Immersion Technologies.
Cramer advised the caller to avoid the crypto-linked stock and instead buy Bitcoin directly. Bitcoin traded around $63,700 when Cramer made his early-August sell comments and was near $74,300 on August 21.
Cramer Recommends Bitcoin Over BitMine
The caller, identified as Sanjay, asked Cramer about BitMine, a publicly traded company with a large Ether treasury. Cramer rejected the indirect crypto exposure and directed the caller toward Bitcoin instead, continuing his earlier preference for holding cryptocurrencies directly rather than treasury-company shares.
Cramer has made similar comments about crypto-linked stocks before. In May, he said investors seeking Bitcoin exposure should “buy Bitcoin” rather than Strategy shares.
Quantum Concerns Prompted Earlier Bitcoin Exit
Cramer said in early August that he planned to sell his Bitcoin after interviewing IBM CEO Arvind Krishna about potential risks from quantum computing. Krishna told Cramer that investors should become increasingly concerned about current cryptographic systems within three or four years.
Cramer responded by saying he would sell his holdings, although no public wallet address, position size or transaction has independently confirmed that a sale occurred. Bitcoin subsequently moved higher, reaching an intraday level around $75,500 on August 20.
‘Inverse Cramer’ Meme Returns
The sequence has revived online references to the “Inverse Cramer” strategy, a meme suggesting traders should take positions opposite Cramer’s recommendations. The latest reaction reflects Cramer’s changing public comments rather than evidence that his calls caused Bitcoin’s price movements.
An exchange-traded fund once attempted to systematically bet against Cramer’s stock recommendations, but it closed in 2024 after underperforming the S&P 500. Cramer’s latest Bitcoin recommendation marks another change in his recent public stance on the cryptocurrency.
