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Binance CEO Trolls Jim Cramer as Bitcoin (BTC) Hits $21,500

Sun, 01/15/2023 - 10:23
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Gamza Khanzadaev
Changpeng Zhao makes unusual request to CNBC host as Bitcoin (BTC) reclaims two-month high
Binance CEO Trolls Jim Cramer as Bitcoin (BTC) Hits $21,500
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The head of major cryptocurrency exchange Binance, Changpeng Zhao, also known as CZ, has commented on the recent success of the Bitcoin (BTC) price. In addition to the entrepreneur's statement that BTC is "still here," he also ironically noted the accuracy of the predictions of famed cryptocurrency critic and host of CNBC's Mad Money show, Jim Cramer.

What did Jim Cramer say this time?

It's about Cramer's tweet from Tuesday, Jan. 9, in which he noted a good opportunity to withdraw investments from cryptocurrencies, which as the presenter says "can't be trusted." The irony is that since then, in less than a week, Bitcoin has risen in value by more than 20% and has come to where it was before the crisis caused by the fall of FTX.

The Binance chief asked Cramer to keep on spreading fear, uncertainty and doubt about cryptocurrencies so that the market will continue to rise. Recall that the presenter has been known for the inverse "accuracy" of his predictions since 2008, when he publicly stated that global investment bank Bear Stearns would not be able to collapse. It is easy to guess what happened next.

Jim Cramer Raises Concerns Over 'Unprecedented' Crypto Bank Bailout

Cramer did not respond to the jabs from CZ or other members of the crypto community, but earlier, four days after his initial tweet, he called the ongoing growth a short squeeze and drew attention to the story with Genesis and Gemini, whose investigations have been initiated by the SEC.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.