Jim Cramer Announced That He Has Sold Most Of His Bitcoins!

Famous American television personality and economist Jim Creamer announced that he sold a large part of his BTC assets.

Jim Cramer announced that he has sold most of his Bitcoins. Cramer targeted China as the reason for selling the leading cryptocurrency and said, "It's not a democracy, it's a dictatorship, and they see Bitcoin as a threat to their system." American television personality and former hedge fund manager Jim Cramer, one of CNBC's economic commentators, stated that he sold most of his Bitcoins.

Targeted China

Evaluating the decline in Bitcoin on the "Squawk on the Street" program he appeared this morning, Jim Cramer stated that the decisions taken by China caused the BTC price to drop to these levels, and said: “I sold most of my Bitcoins. I no longer need it. The effects of China's moves and ransom attacks are huge. If China has made a decision on something, it has its own way of going after it. There is no democracy there. There is a dictatorship. They see Bitcoin as a threat to their regime because it is outside their system… They are unable control it.”

“I Don't Think Bitcoin Will Rise”

Commenting on the ransom attacks, which the USA has been seriously discussing for the last year, Cramer, used the following statements: “Our country has no control over such ransom attacks, even within the United States. Colonial was the first company to pay the ransom in this sense. I think the Department of Justice, the Fed, and the FBI should unite and punish companies that pay the ransom. They should go after them… For all these reasons, I do not think Bitcoin will rise” Cramer said that in 2020, the famous investor and podcaster Anthony Pompliano impressed him quite a lot and announced that he invested $500,000 in Bitcoin. Cramer later stated that he sold some of his Bitcoin for home payment.