CNBC television presenter Jim Cramer made a post on Monday that cryptocurrency enthusiasts have linked to the possibility of a comment on bitcoin BTC/USD.
What happened: Cramer said Monday on X: “Next to the trillion-dollar level? Tonight.”
This comes as leading cryptocurrency Bitcoin reached a trillion-dollar valuation after it jumped from $53,000 to $56,000 on Monday night.
Voices within the crypto community are responding to Cramer's comment, with one user responding to X: “Please don't talk about #Bitcoin Jim PLLLEEASSSEEE.”
For those unfamiliar, the “Reverse Cramer” phenomenon depends on the belief that doing the opposite of what Cramer recommends will lead to profitable results.
See more: Dogecoin HODLERS Are Outperforming Shiba Inu With 57% Gains, IntoTheBlock Data Reveals
Because it is important: Bitcoin has shown strong performance this year, breaking out of a range on February 23 to hit a new two-year high of $54,360.
The cryptocurrency market skyrocketed due to a combination of factors including continued investments in spot Bitcoin. Exchange Traded Funds (ETF), anticipation around the supply halving event and broadly positive sentiment from retail and institutional investors.
Investing in crypto products from heavyweights like Black Rock, ARCA invest, Grayscaleand others added almost $598 million in the span of just five days (February 19 to 23), before the pace of investment slowed slightly toward the end of the week.
Cramer, who had shown skepticism towards Bitcoin in the past, especially during the Sam Bankman-Frito trial in October in which he was not willing to bet much on Bitcoin, he publicly revised his stance on the cryptocurrency.
Cramer had previously dumped the majority of his Bitcoin holdings in 2021 following the mining crackdown in China. However, in January he said: “This thing can't be killed.”
In January, Cramer said: “Bitcoin = own hard.” In response, Microstrategy CEO Michael TaylorSaid one Bitcoin advocate: “Bitcoin = tougher owners.”
Price action: At the time of writing, BTC was trading at $56,532 per token, up 10% in the last 24 hours. according to data from Benzinga Pro.
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