Jim Cramer Acknowledges Bitcoin as a ‘Technological Marvel’

On Tuesday morning, Jim Cramer, the host of CNBC's Mad Money, shifted his previously negative stance on Bitcoin. 

This change occurred in light of the anticipated U.S. regulatory approval of a spot Bitcoin ETF and as Bitcoin's price surpassed $45,000 for the first time in 21 months.

"Bitcoin is a technological marvel and I think people need to start recognizing it's here to stay." In his commentary, Cramer also referred to another well-known critic of Bitcoin, stating that the late Charlie Munger "was blind to this."

This thing, you can't kill it.

Cramer's recent statements mark a departure from his early October comments during the Sam Bankman-Fried trial. 

At that time, he expressed disinterest in investing in Bitcoin, remarking, "Mr. Bitcoin is about to go down big." 

Before this, he also mentioned having sold most of his Bitcoin holdings in 2021 following the crackdown on mining in China.

However, the ex-hedge fund manager did not fully embrace a bullish stance on Bitcoin this morning. He indicated that not all current investors are committed for the long term and hinted that the approval of spot ETFs might lead to a "sell the news" event.