Jim Cramer Takes Fresh Swipe At Bitcoin, Calling It A 'Tough Own' – MicroStrategy CEO Michael Saylor Responds
Portfolio Pulse from Mehab Qureshi
Jim Cramer, CNBC host, expressed a bearish view on Bitcoin, calling it a 'tough own' and doubting its price recovery. MicroStrategy CEO Michael Saylor responded, defending Bitcoin's resilience. Bitcoin's price fell below $40,000, impacting the wider crypto market. Ethereum also saw a downturn. The market corrections follow the launch of spot Bitcoin ETFs in the U.S. Cramer had previously acknowledged Bitcoin's endurance when its price surged past $45,000.
January 23, 2024 | 7:22 am
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MicroStrategy's CEO Michael Saylor defended Bitcoin against Jim Cramer's bearish comments. With Bitcoin's price falling and MicroStrategy's significant Bitcoin holdings, the company's stock may face short-term pressure.
MicroStrategy, as a major corporate holder of Bitcoin, is likely to experience stock price volatility in correlation with Bitcoin's price movements. Cramer's negative comments on Bitcoin, combined with the actual price drop, could contribute to bearish sentiment among investors, potentially leading to a short-term decline in MSTR's stock price.
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IMPORTANCE 70
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