‘Bitcoin Advocates’ CNBC’s Jim Kramer: “It’s sold out”

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Jim Kramer – CNBC screen capture

CNBC reported on the 21st (local time) that famous US stock commentator Jim Cramer said he had “sold most of his holdings of bitcoin.”

He is a stock market expert who is running the ‘Mad money’ section on CNBC, an American economic broadcaster.

He said that China sold almost all bitcoin because of the fact that it is tightening crackdown on cryptocurrencies (virtual currencies) such as bitcoin and that bitcoin is being used for ransomware (malicious programs that demand ransom) attacks said.

Hackers who have recently been involved in ransomware attacks prefer to receive Bitcoin as a ransom.

He was so Bitcoin-friendly that he said early on that he had paid off his mortgage by investing in bitcoin. Then he disposed of bitcoin.

He said that the hackers who hacked the Colonial Pipeline, the largest oil pipeline company in the United States, demanded Bitcoin as a ransom, and predicted that the US government, following China, will increase the level of regulation on Bitcoin.

He added that China’s recent tightening of its crackdown on bitcoin was also a factor in the sale of bitcoin.

Recently, the Chinese government has strengthened its crackdown, including banning bitcoin trading and mining. For this reason, as of 10:00 a.m. on the 22nd (Korean time), Bitcoin is at the $32,000 level, down 10% from 24 hours ago.

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