On Monday (January 11), Former hedge fund manager\u00a0Jim Cramer\u00a0explained during an interview why he had recently decided to sell some of his BTC holdings.<\/p>\n
Cramer is the host of CNBC show \u201cMad Money w\/ Jim Cramer\u201c. He is also a co-anchor of CNBC\u2019s \u201cSquawk on the Street\u201c, as well as a co-founder of financial news website\u00a0TheStreet.<\/p>\n
On 10 September 2020, Anthony Pompliano (aka \u201cPomp\u201d), who is a co-founder of Morgan Creek Digital as well as the host of \u201cThe Pomp Podcast\u201d, told his almost 370K followers on Twitter that he had managed to convince Cramer to buy some Bitcoin (apparently during a recent podcast interview with Cramer).<\/p>\n
Then on 11 December 2020, Cramer\u00a0told\u00a0Katherine Ross, a correspondent for TheStreet, that he had just bought more Bitcoin, and proceeded to explained why:<\/p>\n
\u201cYeah, I just felt that back at $17[k] seemed like a decent level, and I will buy \u2014 like I usually do \u2014 as something comes down. I\u2019ll get bigger and bigger and bigger.<\/em><\/p>\n \u201cI just think that you want to diversify into all sorts of asset classes. I have gold. I\u2019m going to diversify into some Bitcoin \u2014 not a big position for me \u2014 but it\u2019s certainly important to be diversified, and Bitcoin is an asset and I want to have a balance of assets.<\/em>\u201d<\/p>\n Well, yesterday, Ross asked Cramer during an interview what he thought about Bitcoin\u2019s recent price action.<\/p>\n Cramer talked about what he thinks about the Bitcoin markets and explained why he had recently (before the large correction that started on Sunday) sold some of his Bitcoin holdings.<\/p>\n \u201cThere\u2019s a belief that this somehow has a market that is not erratic. I have tried to do a trade in Bitcoin over a weekend, and it\u2019s really really hard to do\u2026 and I think what people have to recognize is this market is not like any other market you\u2019ve ever seen.<\/em><\/p>\n