Jim Cramer disclosed that he sold all his Bitcoins because, in his opinion , Bitcoin can’t recover soon. Since he pointed out three reasons why he sold his Bitcoin but it seems independent.
James Joseph Cramer is an American television personality and host of Mad Money on CNBC. He is also a Cryptocurrency investor.
In a recent report it is found that James Cramer revealed himself that he sold almost all of his Bitcoin. According to his statement we can assume that he sold 80% of his Bitcoin holding.
But due to uncertainty in the Cryptocurrency market, he is holding a few Bitcoins.
James believes that there are no more reasons for bitcoin to rise in the near future.
In Squawk On The Street show, he talked about own point of view on the Cryptocurrency market and Cryptocurrencies.
And also James pointed out three main factors that why he sold his Bitcoin.
The first and main reason to sell his Bitcoin holding is China’s crackdown on Bitcoin ban.
Related: China Moving Toward national Crypto Mining Ban
With the down of the hash rate power of miners, the chances of bitcoin to regain its all time high is going down.
Second thing he said about Cryptocurrencies, he doesn’t believe in any coin and their links in the market.
Since it is the beginning of this Cryptocurrency market but surely in future it will have some other stand.
Then he talked about ransomware attacks also, where hackers always choose Bitcoin, Ethereum or Monero like coins for high level scams. This is a Biggest problem of cryptocurrencies existence and that is the main reason to remain always aware about these risks of Cryptocurrency.
Related: Hackers Choosing Monero Over Bitcoin
Probably through this point of misuse of Cryptocurrency, he targeted the future laws that can restrict the use of Cryptocurrency uses.
Read also: New York City will become a bitcoin center : Eric Adams
