Analyst Jim Cramer, Whose Opinions Are Always Wrong, Talks About Bitcoin Again

In a recent live broadcast on CNBC, veteran trader and host Jim Cramer expressed his reservations about

Bitcoin

as a hedge investment in times of inflation and economic instability.

Jim Cramer, who is known for his reactionary statements and is often the subject of ridicule because the exact opposite of his predictions come true, said, “I can’t hang out with

Bitcoin

because I can’t be in a place where Mr.

Bitcoin

is about to experience a big decline.”

He suggested to his audience that they would be better off investing in gold, a traditional safe-haven asset, rather than cryptocurrencies.

“The charts show you should ignore the crypto fans as

Bitcoin

bounces. And if you want a real hedge against inflation or economic chaos, you should stick with gold,” Cramer added.

This isn’t the first time Cramer has expressed skepticism towards Bitcoin. In June 2021, he announced that he was selling most of his

Bitcoin

holdings following China’s crackdown on crypto miners. He also expressed concerns about structural problems in

Bitcoin

and predicted that its price would drop further.

But not everyone shares Cramer’s views. Appearing on CNBC earlier Tuesday, billionaire hedge fund manager Paul Tudor Jones expressed his support for both

Bitcoin

and gold due to the combination of extensive geopolitical risk and rising US government debt levels.

*This is not investment advice.