Jim Cramer Says ‘You Can’t Kill’ Bitcoin as BTC Surpasses $45,000
Recently, Bitcoin has made a strong recovery, bouncing back and surpassing the $45,000 mark. Despite doubts from critics, this resilience has strengthened the case for supporters who believe that Bitcoin is a lasting technological and financial innovation.
In an appearance recently on CNBC, Jim Cramer, the television personality and economic analyst, declared that “you can’t kill Bitcoin, as it’s here to stay.” This asserts Bitcoin’s durability amidst the volatility and uncertainty that have surrounded the cryptocurrency asset class since its inception over a decade ago.
Key Details on Bitcoin’s Comeback:
- Bitcoin has surged past $45,000 in anticipation of Bitcoin ETF approval.
- Critics, including late investor Charlie Munger, Warren Buffet’s long-time business partner, dismissed BTC as lacking underlying value.
Read more: DOJ Shelves Campaign Finance Charges Against SBF; Coinbase CLO Calls It A Mistake
Cramer Credits the Technology Behind Bitcoin
In his commentary, Cramer credited the technological achievements behind BTC as the key reason why it continues to endure and challenge traditional notions of currency and assets.
“It’s a technological marvel, and I think people have to start recognizing that it’s here to stay,” Cramer noted. “This is a remarkable comeback that was unexpected, except for all the bulls who turned out to be right.”
Read more: IRS Sees Surge In Crypto Tax Evasion Cases After Binance Probe
The debate around the proper role of Bitcoin and its peers in finance will surely continue. However, the original cryptocurrency has shown impressive resilience in staking its claim as an innovation that appears poised to maintain its footing.
Bitcoin has shown robust momentum entering 2024. BTC surged past the $45,000 price level to touch $45,899 before falling to its current price of $45,040 at press time. Alongside BTC, altcoins put on a decent rally, with some coins exhibiting single- and double-digit gains.
