Jim Cramer's BTC Advice: 'If You Want Bitcoin, Don't Buy MicroStrategy'
Portfolio Pulse from Benzinga Neuro
Jim Cramer, host of CNBC's 'Mad Money,' advised investors seeking Bitcoin exposure to directly purchase Bitcoin instead of buying MicroStrategy Inc. (NASDAQ:MSTR) stock. MicroStrategy, known for holding a significant amount of Bitcoin, recently launched 'MicroStrategy Orange,' a decentralized identity service. The cryptocurrency market, including Bitcoin, has seen notable movements, with Bitcoin's price surge attributed to investments in spot Bitcoin ETFs by major banks and bullish predictions by investors like Anthony Scaramucci.
May 14, 2024 | 12:18 pm
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Jim Cramer's advice against buying MicroStrategy for Bitcoin exposure could lead to short-term negative sentiment among investors, potentially affecting the stock's price.
Cramer's advice may lead some investors to reconsider their strategy of investing in MicroStrategy as a proxy for Bitcoin, potentially leading to a decrease in demand for MSTR shares in the short term.
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