Mad Money host Jim Cramer said he has sold almost all of his bitcoin. He cited the Chinese government’s crackdown on bitcoin mining and concerns over bitcoin’s role in ransomware attacks.
Jim Cramer Worried About China’s Mining Crackdown and Ransomware, Sold Almost All His Bitcoin
The host of CNBC’s Mad Money show, Jim Cramer, revealed Monday that he has sold almost all of his bitcoin. A former hedge fund manager, Cramer co-founded Thestreet.com, a financial news and literacy website.
Citing the Chinese government’s bitcoin mining crackdown and the cryptocurrency’s role in ransomware attacks, Cramer said:
Sold almost all of my bitcoin. Don’t need it.
Cramer got into bitcoin towards the end of last year in fear of massive inflation. In March this year, he said gold let him down and advised people to sell gold and increase their bitcoin holdings. “If they listen to me, they’re going to drop half their gold. I’ve been saying…