Posted 11 months ago | by @devadmin
“This is no different than an entirely erratic stock,” Cramer stated on a recent CNBC interview with The Street.
The host of CNBC’s Mad Money, Jim Cramer, told The Street he is still “playing with the house’s money” after selling off some of his crypto before the recent price crash.
In an interview with TheStreet, Jim Cramer stated he still believes in Bitcoin despite its $10,000 price correction over the past three days. Although, he added he was unlikely to buy more unless the price goes under $20,000 again.
“My goal was to get my cash out so I don’t have to think about it,” said Cramer. “If it goes back under $20,000, I’m a buyer again. But I got my cost out, and I’m playing with the house’s money. This is no different than an entirely erratic stock.”
Kramer previously tweeted he had “sold enough Bitcoin” last week to cover his initial purchase in the digital asset. Cramer reportedly purchased his first Bitcoin in mid-December when the price was in the $17,000s, at the time calling it a “decent level” to purchase.
Bitcoin has plunged more than 25% since reaching an all-time of more than $42,000 on Friday.
Bitcoin’s price fell $9,000, hitting a low of $32,000. Meanwhile, the entire crypto market has shed over $200 billion from its peak to date.
BTC is currently trading at around [FIAT: $34,468.34] DOWN -5.3% in the last 24 hours according to Coingecko at the time of this report.