According to Anthony Pompliano (aka “Pomp”), a co-founder of crypto-focused asset management firm Morgan Creek Digital Assets, CNBC’s Jim Cramer, the man who said two years ago that Bitcoin was “like an outlaw currency”, is now a Bitcoiner.
Former hedge fund manager Cramer is the host of CNBC show “Mad Money w/ Jim Cramer“. He is also a co-anchor of CNBC’s “Squawk on the Street“, as well as a co-founder of financial news website TheStreet.
On 7 June 2017, when Bitcoin was trading around $2,800, after being told on “Squawk on the Street” that Business Insider CEO Henry Blodget had predicted that Bitcoin would one day be worth $1 million, this is how Cramer responded:
I think it [Bitcoin] could [reach $1 million] because the European banks are frantically trying to buy them so they can pay off ransomware. It’s a short-term way to be able to deal with cybersecurity. It is the way to pay off the bad guys.
However, on 14 August 2018, at a time when Bitcoin had just fallen below the $6K level, we found out that Cramer had gone from being super bullish to bearish:
I think the tide has turned against it… I’m not saying its time has passed, but there is a notion that the sun seems to be setting.
Well, yesterday (September 10), Pompliano, who is also the host of “The Pomp Podcast” told his almost 370K followers on Twitter that he had convinced Cramer to buy some Bitcoin (apparently during a recent podcast interview with Cramer):
Just convinced @jimcramer to buy Bitcoin.
Reply to this tweet with your best meme or gif to welcome the world’s newest Bitcoiner ??
— Pomp ?? (@APompliano) September 10, 2020
One CNBC colleague of Cramer who has been super bullish on Bitcoin for a long time is hedge fund manager and CNBC contributor Brian Kelly, who gave the following answer on July 27 when asked by Melissa Lee, who is the host of CNBC show “Fast Money“, which asset he was most bullish on — gold, silver or Bitcoin.”
Kelly replied:
“Well, for me, it’s going to be Bitcoin. You might say ‘well, BK, your are biased because you run a crypto fund’, but that’s not it.
“I also trade macro, which means I have a whole bunch of different things that I can invest in — currencies, stocks, bonds, precious metals — and when I look at precious metals versus Bitcoin, Bitcoin has better fundamentals, and with fundamentals, I’m talking about the stock to flow ratio.
“It’s better than gold at this point because we had the halvening, and when I look at the Bitcoin cycles, the bull markets tend to cluster around the halvenings, and so we’re tracking right along like the 2016 halvening cycle, and that would imply that sometime in Q2 2021 you’re looking at a Bitcoin price of $50,000.”
Featured Image by “SnapLaunch” via Pixabay.com
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
