Mike Smith
Jan 28
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Well-known financial expert and TV host of the Mad Money program Jim Cramer made an unexpected statement regarding investments in the cryptocurrency market. In his recent speech, the former Cramer & Co hedge fund manager noted the advantages of direct investments in Bitcoin over purchasing MicroStrategy shares.
"If you intend to invest in the first cryptocurrency, buy it directly. I myself hold a certain position in digital gold. This is a really attractive asset that deserves a place in the investment portfolio, unlike MicroStrategy securities," the expert shared his opinion.
It is worth noting that from January 21 to 26, MicroStrategy significantly increased its cryptocurrency reserves, acquiring an additional 10,107 BTC. The deal amounted to about $ 1.1 billion with an average purchase price of $ 105,596 per coin. After this purchase, the total volume of Bitcoin on the company's balance sheet reached an impressive 471,107 BTC.
Since the beginning of its cryptocurrency strategy in August 2020, the tech company has invested about $30.4 billion in the digital asset. The average acquisition cost was approximately $64,511 per unit. Currently, MicroStrategy is the largest corporate holder of Bitcoin, controlling 76% of all public company reserves and 2.24% of the total supply of the cryptocurrency.
It is interesting to trace the dynamics of the change in Cramer's position himself. In the past, the TV presenter demonstrated clear skepticism towards Bitcoin, calling it a fraudulent instrument and advising investors to get rid of the cryptocurrency when the price reaches $24,000. Last spring, he also expressed doubts about the prospects for further growth of the digital asset.
It is noteworthy that Cramer is not the only one who has changed his attitude towards the first cryptocurrency. Billionaire Ray Dalio, previously known for his critical attitude towards Bitcoin, described it as "hard money" in December. A year before this statement, the financier admitted to having Bitcoin in his investment portfolio, although he noted his preference for physical gold over its digital analogue.
Meanwhile, the Bitcoin ETF market continues to develop actively. The total volume of Bitcoin under the management of ETF funds has reached 1.325 million BTC, which is 6.3% of the total supply. About half of this volume is accounted for by IBIT from investment giant BlackRock.
