In the curious carnival that is the money market, Jim Cramer-jaw-flappingly famous for a microphone and opinions heavier than a suitcase full of toffee-has whipped up a scathing, fizzing critique of Bitcoin after a brutal weekend sell-off that felt like a stampede of elephants wearing roller-skates through the toyshop of finance.
Despite proudly wearing the badge of “I own Bitcoin” on his sleeve, the man with the talking hat argued that the wild price swing-a-thon of the last 48 hours proves Bitcoin cannot function as a steady, polite medium of exchange. A bit like trying to use a rubber duck as a telephone, really.
“The demonstration of what can happen in a weekend with bitcoin demonstrates its unreliability, on a short-term basis, to be a currency,” Cramer wrote. “And I write that as someone who owns bitcoin.”
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The “sideshow”
In another social media twinkle, Cramer urged investors to stop gnawing their nails over the price swings of non-yielding toys and to peek at the sturdy basics behind the glitter. He drew a cheeky line between the crypto panic and the glittering gold-and-silver market.
“We fret when gold and silver skyrocket and we fret when gold and silver crash. Maybe we should just worry about earnings,” Cramer stated. “I am not saying these are sideshows, nothing it is a sideshow, but not all events/prices/sudden movements are created equally…”
However, he noted that this particular crash might be a targetted nibble. With Michael Saylor’s Strategy (formerly MicroStrategy) set to report earnings this week, Cramer believes Wall Street bears are sniffing for blood.
“Saylor reports this week, Feb 5. So the shorts are probably trying to break him before that,” Cramer warned. “The usual defenders will come on tv and tell a real good story. But it might not be enough because you can short against the converts.”
The Missing $82,000 Bounce
Earlier, Cramer predicted that Bitcoin bulls would stand firm at the $77,000 line, letting the price prance back to $82,000. But the fancy trampoline stayed stubbornly still, and the bounce forgot its manners.
Following the Jan. 31 price tumble, Cramer called out the industry’s loudest bulls’ silence like a row of dummies in a shop window.
“Where are the usual Bitcoin defenders? I figure they have until Monday to get it back to $82,000 so they can claim double bottom and i say that as a long standing owner of bitcoin!!! Ahoy??”
He was gobsmacked that the whales, who stand to lose the most when Bitcoin dives, let such a crucial technical breakdown slip by on a sleepy weekend.
“I am always surprised that those who have the most to lose by a falling bitcoin ($80,000 line in the sand) don’t defend it over the weekend.”
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2026-02-02 09:20