It’s unclear if “Mr. Bitcoin” was in reference to the ongoing trial of Sam Bankman-Fried, or to bitcoin in general, but Cramer’s bearishness was evident.
Cramer had previously stated in June 2021 that he had sold most of his bitcoin holdings following China’s crackdown on crypto miners. He also said during the same time period that bitcoin had structural issues and its price would likely fall further.
Appearing on CNBC earlier on Tuesday, billionaire hedge fund giant Paul Tudor Jones said he’s a fan of both bitcoin and gold due to the combination of extensive geopolitical risk and rising U.S. government debt levels.