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


 224 total views

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.


Blockcast.cc does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision.