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CNBC's Jim Cramer Calls Bitcoin "Phony Money" After Cashing Out Half of His Stash

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Thu, 04/15/2021 - 19:12
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Alex Dovbnya
CNBC's Jim Cramer has cashed out half of his Bitcoin holdings to pay for his mortgage
CNBC's Jim Cramer Calls Bitcoin "Phony Money" After Cashing Out Half of His Stash
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During the Thursday broadcast of “Squawk on the Street,” CNBC's superstar anchor Jim Cramer revealed that he had sold half of his Bitcoin holdings to pay off his mortgage: 

From the chart, I may be the only natural seller, but it was so great to pay off a mortgage. It was like, kind of, phony money paying for real money

The famed stock picker claims that he got into Bitcoin for the first time when it was trading at around $12,000. On Apr. 14, the flagship cryptocurrency reached a new all-time high of $64,895 on the Bitstamp exchange before retracing to the $62,000 level.    

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Cramer has been extremely vocal about his support for Bitcoin for the past few months. On a recent podcast with crypto evangelist Anthony Pomliano, he said that the top crypto was exactly what he was searching for with gold.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.