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

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Thu, 15/04/2021 - 19:12
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: 

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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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