CNBC Mad Money host Jim Cramer stated in late July and early August that he planned to sell his Bitcoin holdings. The comments followed an interview on his show with IBM Chairman and CEO Arvind Krishna.
Krishna discussed advances in quantum computing and said investors should allow three or four years before becoming concerned about the technology’s potential impact on cryptography that protects digital assets like Bitcoin. Cramer responded on air by saying he would sell his Bitcoin. He noted that Krishna understands quantum computing and its possible effects on the asset.
No public records, wallet addresses or filings have confirmed the size of any position Cramer held or whether a sale took place. Reports place the statements between July 31 and early August. At that time Bitcoin traded near 63,000 to 64,000 dollars.
In the weeks that followed Bitcoin advanced. By August 21 the price had moved above 74,000 dollars and later reached levels near 78,000 dollars and higher. The asset recorded gains of roughly 16 to 26 percent from the period of Cramer’s comments, with a sharper increase in the most recent sessions.
On a later episode of Mad Money around August 20, Cramer fielded a call from a viewer about a crypto related stock. He advised the caller to buy Bitcoin directly rather than the equity.
Cramer has commented on Bitcoin at various points in prior years, including earlier statements about reducing or exiting positions.