Key Takeaways
- Jim Cramer recommended buying Bitcoin directly over MicroStrategy.
- MicroStrategy owns 471,107 BTC but is affected by external factors.
- Cramer has shifted from a skeptic to a proponent of Bitcoin's value.
On the latest episode of Mad Money, host Jim Cramer advised viewers to buy Bitcoin directly instead of investing in MicroStrategy.
Cramer said:
If you want to own Bitcoin, own Bitcoin. Bitcoin is a great thing to have in your portfolio but not MicroStrategy, that’s enough.
MicroStrategy as a Bitcoin proxy
While Bitcoin offers direct exposure to the asset, MicroStrategy acts as a proxy, with its value tied to its massive Bitcoin holdings.
The company owns 471,107 BTC worth over $46 billion, yet its stock can be affected by external business factors, making it a more complex investment.
Cramer’s journey with Bitcoin
Cramer has had a tumultuous relationship with Bitcoin.
After selling all of his cryptocurrency following the FTX collapse in December 2022, he declared he wouldn’t…
… touch crypto in a million years.
By October 2023, he predicted Bitcoin’s value would collapse.
Recent change of heart
However, in January 2024, he reversed his position, praising Bitcoin as:
A technological marvel that can’t be killed.
He criticized the SEC’s opposition to Bitcoin and emphasized its staying power in the market.
Current market performance
Bitcoin currently hovers around $100,000 after a recent market dip.
MicroStrategy, trading at $347.92 pre-market, remains near its all-time highs, though its stock introduces complexity beyond Bitcoin’s price movements.
