Because of the recovery of the cryptocurrency market, Jim Cramer, the host of CNBC’s Mad Money, said on Monday that he would liquidate all of his Bitcoin holdings.
Investors should exercise caution when using Bitcoin since it may still be manipulated, according to Cramer. Bitcoin is a “weird beast,” Cramer cautioned on Mad Money, and investors should liquidate their holdings during the upswing.
“I would sell my Bitcoin into this rally, believe me, and I had been a believer in BTC,” Cramer remarked.
Investors that depend on Cramer’s stock recommendations are now facing difficulties due to the bankruptcy of Silicon Valley Bank, a division of the SVB Financial Group SIVB. Several of the companies that Cramer has previously recommended are among the worst decliners as a result of these closures.
Just a few weeks after Cramer selected Signature Bank as a favorite, authorities closed it down.
Compiled by Coinbold