Elon Musk reacts on Bitcoin, as the price starts crashing following CNBC host Cramer’s Bitcoin buy advice

Elon Musk showed his reaction to Jim Cramer’s advice on Bitcoin & said that he is powerful in the volatile money market with his suggestions.

Jim Cramer is a popular American television personality, author, and former hedge fund manager. He is popularly known as the host of the CNBC show Mad Money. Through this show, Cramer shares his investment advice & sentiments about the stock market. Cramer also covers topics related to Bitcoin & some other top crypto assets through his show, but usually, people find that his advice on cryptocurrencies always remains bad.

In the past, some people used Cramer’s advice opposite & generated a very big amount of profit. Because of Cramer’s hate & blindly bad opinion regarding cryptocurrencies, crypto people call his advice “inverse Cramer”.

In the latest episode of the show, Jim Cramer said Bitcoin is a winner & suggested people buy it. A Dogecoin-affiliated X account noted that Bitcoin price started sliding down because of Jim Cramer’s statement.

On this information, Tesla CEO Elon Musk responded with a laughing emoji & agreed that Cramer is powerful enough to shake the market.

Bitcoin price action & increasing institutional adoption

The current trade price of Bitcoin is $96,388 & this price level is 1.2% down over the last 24 hours period.

With the increasing trade price of Bitcoin, the level of FOMO among the big financial institutions is increasing sharply.

Recently Charles Schwab’s incoming CEO said he has not personally invested in crypto and prefers stocks. He admitted that he feels bad for not buying crypto & confirmed that they will get into spot crypto.

It is worth it to note that Charles Schwab currently manages more than $8.5 trillion in client assets. Such statements by big players are going to impact the Bitcoin bull sentiments positively.

Read also: Top market insiders claim Microstrategy ($MSTR) going to buy 80,000+ Bitcoins this weekend