Jim Cramer Takes Fresh Swipe At Bitcoin, Calling It A 'Tough Own' – MicroStrategy CEO Michael Saylor Responds

CNBC television host Jim Cramer has taken to X with a somber outlook on Bitcoin BTC/USD, marking his second commentary on the cryptocurrency within 24 hours. 

What Happened: Cramer, known for his bearish Bitcoin sentiment, posted on Monday signaling discomfort with the apex cryptocurrency stating, “Bitcoin=tough own.”

In response, MicroStrategy CEO Michael Saylor, a well-known Bitcoin advocate, countered Cramer’s response, “Bitcoin = toughest owners.”

This follows Cramer’s earlier tweet of the day where he expressed doubt about a Bitcoin price recovery, saying, "Unlikely that Bitcoin finds its footing."

Bitcoin’s price trajectory supports Cramer’s bearish comments, as it observed a notable slump on Monday, falling below the $40,000 mark for the first time this year, thereby exerting downward pressure on the wider cryptocurrency market.

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Why It Matters: Bitcoin was down by approximately 3.9% at $40,052.76, following a dip to as low as $39,414.80, a figure not seen since December 3. Ethereum ETH/USD also faced a downturn, decreasing by 5% to a value of $2,333.00.

The downturn comes amid corrections following the launch of multiple spot bitcoin exchange-traded funds (ETFs) in the U.S., a move that initially drove investment interest as the Securities and Exchange Commission (SEC) gave the nod for trading.

Earlier in January, Cramer had shifted away from his bearish stance when Bitcoin’s price surged past $45,000. At that time, he spoke on the resilience of Bitcoin, acknowledging its technological attributes to CNBC’s David Faber: "This thing, you can’t kill it,” he said. Adding more to his revised perspective, Cramer praised Bitcoin’s endurance and urged a recognition of its permanence, despite having previously joined ranks with skeptics like the late Charlie Munger, whom he mentioned as having been “blind to this.”

Photo by a katz on Shutterstock

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