Host of CNBC’s Mad Money Jim Cramer stated in a recent interview that while he still believes in Bitcoin in the long run, he does not plan on buying any more until the price falls below $20,000 again.
“My goal was to get my cash out so I don’t have to think about it,” Cramer said. “If it goes back under $20,000, I’m a buyer again. But I got my cost out, and I’m playing with the house’s money. This is no different than an entirely erratic stock.”
The CNBC host reported he had sold enough Bitcoin last week to cover his initial stake in the crypto asset. At the time of writing Bitcoin is trading hands at $33,836 and is down 10.46%.
By Emily Mason