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Popular TV host Jim Cramer has once again criticized Gold and Bitcoin as these assets continue to show underwhelming performance. In a move that surprised few seasoned investors, Cramer stated that “bad money” in Bitcoin and Gold was being liquidated for the $75 billion SpaceX Initial Public Offering (IPO).
Cramer tweeted:
In addition to BTC and Gold, Cramer claimed that shares of companies like SpaceX and Apple were being sold ahead of the space company’s IPO, but he called them “good money” rather than bad money.
For reference, the term “good money” refers to cash flow generated by high-quality, income-producing assets; in this case, Cramer is referring to Apple and Nvidia. “Bad money” typically refers to the “sunk cost fallacy”, an asset that continues to demand more liquidity injections and gives nothing in return. Cramer is calling Gold and BTC “bad money” here.
Jim Cramer’s Roller Coaster Takes on Bitcoin
Known for his unconventional “hot takes”, Jim Cramer has often taken flak from crypto users over X, and critics say he often employs rage bait tactics to get more attention on the social media platform.
 
He has flip-flopped on Bitcoin extensively over the past year or so. The host of Mad Money on CNBC once predicted that the US government under Donald Trump would buy Bitcoin for the country’s strategic reserve once it hit $60k earlier this February. Back then, the digital currency was struggling at $69k, and it actually touched $60k again earlier last week, but there was no buying from the government.
A few years back, the television personality praised Bitcoin and called it superior to Gold. He also stated that he had made more money investing in digital currencies than conventional assets like Gold and stocks. Back then, the market was performing well, and his comments reflected the bullish sentiment.
However, now that the bull market is over and we are in a deep price pullback, Cramer’s tone has changed, and he is now calling BTC and even Gold “bad money” despite calling himself a gold bug in the past.
Twitterati Respond
Crypto and gold users immediately took exception to his rage-bait tweet and responded against his take. A few crypto users have comedically claimed that when Cramer turns against BTC, the market’s bottom is in.
One user replied:
Another quipped:
