Mad Money’s Jim Cramer Wants Crypto Investors to Bet Against Him: ‘I’ve Been Doing This for 42 Years’ – Featured Bitcoin News

Mad Money host Jim Cramer has challenged crypto investors to bet against him. “You don’t do this for 42 years and you lose money every year,” he said. His statement followed a filing with the US Securities and Exchange Commission (SEC) for “Inverse Cramer ETF.”

Jim Cramer to Crypto Investors: Bet Against Me

CNBC show Mad Money host Jim Cramer challenged crypto investors to bet against him in a tweet on Friday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website.

While discussing the shares of Advanced Micro Devices (Nasdaq: AMD), he wrote:: “As always I welcome people who bet against me. I have done this for 42 years. Those who know me know that they would have bet against Apple at $5, Google from the start, Meta at $18, Amazon at $10, Nvidia at $25 and AMD at $5. I welcome all comers.”

Cramer then followed up with another cheep about crypto. Noting that he bought a farm with his bitcoin earnings and a boat with ether earnings, the Mad Money host proceeded to challenge crypto investors: “I want you to bet against me. You don’t do this for 42 years and you lose money every year.”

Many people have been attacking Cramer for making recommendations that resulted in losing trades.

Last year, he praised Ark Investment Management CEO Cathie Wood just before her flagship fund crashed. She also tweeted a buy recommendation for AMC Entertainment Holdings just before the stock fell 30%. The Mad Money host also said in April of last year: “We like Coinbase at $475.” At the time of writing, Coinbase Global (Nasdaq: COIN) is trading at $67.

‘Inverse Cramer ETF’ prospectus filed with the SEC

Cramer’s tweets followed the filing of a prospectus with the US Securities and Exchange Commission (SEC) by Tuttle Capital Management for two exchange-traded funds (ETFs): the Inverse Cramer ETF and the Long Cramer ETF. The presentation explains:

The Inverse Cramer ETF (the ‘Fund’) seeks to provide investment results that are approximately the opposite, before fees and expenses, of the investment results recommended by television personality Jim Cramer.

Tuttle Capital Management also previously launched an ETF betting against Cathie Wood’s stock picks.

Cramer became a fan of bitcoin in 2020 after speaking with crypto investor and entrepreneur Anthony Pompliano, who convinced him to buy some BTC. The Mad Money host then began advising investors to put 5% of their portfolios into bitcoin. However, concerns about a crackdown on bitcoin mining in China, ransomware attacks, and pegging (USDT) made him dump his BTC for ether in June last year.

A few months later, he begged crypto investors to make a profit. In October, he said that he invested in cryptocurrencies because “there could be millions of bigger fools.” In June of this year, he said that Bitcoin could fall to $12,000 and in August he recommended avoiding cryptocurrencies and other speculative investments altogether.

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What do you think about the Inverse Cramer ETF and Jim Cramer’s response? Let us know in the comments section.

kevin helms

Kevin, an Austrian economics student, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in the security of Bitcoin, open source systems, network effects, and the intersection between economics and cryptography.

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