In a surprising move, CNBC’s Jim Cramer has pivoted toward Bitcoin, citing the ballooning U.S. debt — now near $37 trillion — as his primary concern.
Once a vocal critic of the cryptocurrency, Cramer now sees BTC as a safeguard against what many are calling a looming fiscal crisis.
Cramer’s change of heart comes as economic commentators draw a connection between government overspending and Bitcoin’s recent price surge. The Kobeissi Letter points to a $316 billion deficit in May, one of the highest on record, coinciding with Bitcoin’s continued rally — up over 15% since Trump signed a sweeping new spending bill.
With market forecasts suggesting debt could hit $38 trillion by late 2025, confidence in the U.S. dollar appears to be eroding. Elon Musk recently echoed that sentiment, calling the dollar “hopeless” and announcing Bitcoin donations for his new political movement.
Not everyone is convinced by Cramer’s turnaround. Attorney John Deaton criticized the lack of accountability, highlighting Cramer’s past dismissal of Bitcoin as a scam. Still, the broader trend is clear: Bitcoin is gaining ground as a hedge, even among its former skeptics.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/jim-cramer-backs-bitcoin-as-u-s-debt-crisis-deepens/