Market commentator and popular media personality Jim Cramer may be advocating for Bitcoin (CRYPTO: BTC) these days, but not long ago, he completely wrote off cryptocurrency as an investment.

When Cramer Sold All His Crypto

The stunning collapse of the FTX exchange during the fall of 2022 triggered a “Crypto Winter,” dragging Bitcoin to a low of $16,000. The exchange’s bankruptcy and subsequent arrest of Sam Bankman-Fried rocked the market, just a year after it had celebrated new highs.

In this backdrop, Cramer appeared on CNBC on Dec. 23, stating that the faith of the American people has been shaken.

“I sold all my crypto. I announced everything on TV, what I did with crypto,” the “Mad Money” host said. “I wouldn’t touch crypto in a million years.”

Cramer Questions ‘Blind Faith’

Cramer also took a dig at those who put their coins on unregulated trading platforms.

“If you have your money in any of those, look, I’m not calling you an idiot. I’m just saying you’re using a lot of blind faith,” he said.

‘Inverse Cramer Theory’ At Play?

Bitcoin traded at $16,796 when Cramer made these remarks.

Fast forward three years, and the apex cryptocurrency is worth $86,805 apiece, marking a whopping return of 416%. So, if you adopted the "Inverse Cramer" strategy, you’d be laughing all the way to the bank today.

Note that there has been no definitive proof of this being a profitable strategy. So DYOR.

The Past And The Present

It's worth pointing out that while Bitcoin has thrived in a broader three-year timeframe, its fortunes have declined more recently.

The apex cryptocurrency has wiped out all of its 2025 gains in the ongoing slump, and currently trades 31% below its all-time highs.

Meanwhile, Cramer sounds more like a Bitcoin fan today. Last week, he said that he just wants Bitcoin, not any derivative or Bitcoin treasury companies.

Earlier in the year, he advocated for Bitcoin as a hedge against the escalating U.S. national debt, stating that he was buying a lot himself.

Photo courtesy: katz / Shutterstock.com

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