Jim Cramer backed Bitcoin after it surged 170%

American TV personality and former hedge fund manager Jim Cramer has yet to change his stance on crypto and Bitcoin. Shifting to a more bullish outlook, BTC may have squeezed out a rally that saw it hit a two-year high.

CNBC's “Mad Money” host and crypto perma-bear has changed his tune. On January 2, Bitcoin made another shift in its outlook for digital assets after pushing above $45,000.

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“This thing… you can't kill it,” Kramer yelled. The late billionaire investor Charlie Munger, who mocked bitcoin at every opportunity, added: “He was blind to it.”

“It's a reality and a technological marvel and I think people need to start realizing that it's here to stay.”

“It was an unexpected, spectacular comeback, except for all the bulls that turned out to be accurate,” he said.

On the same show in January 2023, he said, “Any crypto, I think it's going to sell.

First, in November 2023, he indicated a more optimistic view, “Look, if you like Bitcoin, buy Bitcoin. This has always been my view. And I liked it for a while, and I decided that money was made, but I was premature.

Read more: How to buy Bitcoin (BTC) and everything you need to know

However, Cramer's crypto capitulation could be a precursor to, or correction for, poor performance.

This phenomenon led to the launch of the inverse Cramer ETF, allowing investors to bet against it.

Sell ​​the dip, buy the high

In June, Cramer advised investors to exit the crypto markets as regulatory pressure in the US intensified. In retrospect, that period would have been a good entry as most crypto assets collapsed and were in a long-term rally.

He advised selling at the bottom of the market cycle in December 2022: “The reality is, it's never too late to sell a bad position, and if you own these so-called digital assets, that's what you have.” time.

Cramer's ‘sell below buy above' advice has been seen as a source of entertainment among crypto investors who are largely ignored by pundits.

Bitcoin markets were unfazed by his ambitions, with the asset moving very little in the past 24 hours. At the time of press, BTC is trading near its 21-month high, at $45,352.