“It got too much money; it got too hot”, said Cramer about Bitcoin’s initial rise in 2017, which preceded a huge crash at the start of 2018, so “there’s no reason not to wait for it to come down again.”
So, why did he buy Bitcoin near its top, at about $17,000? “I like to buy something, so I’ll buy it from the top,” he said. Cramer said his strategy was the usual: “as something comes down, I’ll get bigger and bigger and bigger,” he said.
Since Cramer’s investment, Bitcoin has risen to $19,195, a 3.72% increase in the past 24 hours. Bitcoin is the largest cryptocurrency by market capitalization.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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