Jim
Cramer,
former
hedge
fund
manager
and
host
of
CNBC’s
Mad
Money,
Tuesday
morning
reversed
his
previously
bearish
stance
on
bitcoin
(BTC)
ahead
of
what’s
expected
to
be
U.S.
regulatory
approval
of
a
spot
ETF
and
as
the
price
rose
above
$45,000
for
the
first
time
in
21
months.
“This
thing,
you
can’t
kill
it,”
Cramer
told
CNBC’s
David
Faber.
“Bitcoin
is
a
technological
marvel
and
I
think
people
need
to
start
recognizing
it’s
here
to
stay.”
Cramer
also
took
note
of
another
famous
Bitcoin
skeptic
(to
put
it
mildly),
saying
the
late
Charlie
Munger
“was
blind
to
this.”
Cramer’s
comments
stand
in
contrast
to
his
remarks
in
early
October
amid
the
Sam
Bankman-Fried
trial,
when
he
said
he
wasn’t
interested
in
getting
long
the
crypto
as
“Mr
Bitcoin
is
about
to
go
down
big.”
Prior
to
that,
Cramer
said
he
had
sold
most
of
his
bitcoin
holdings
in
2021
after
the
China
mining
crackdown.
To
be
sure,
the
former
hedge
funder
wasn’t
a
full-on
bull
on
bitcoin
this
morning,
saying
not
everyone
long
now
is
in
it
for
the
long
haul
and
suggesting
that
the
spot
ETF
approvals
could
be
a
“sell
the
news”
event.
Bitcoin
overnight
rose
above
$45,000
for
the
first
time
since
early
April
2022
as
speculation
ramped
that
the
U.S.
Securities
and
Exchange
Commission
(SEC)
perhaps
this
week
would
approve
a
number
of
spot
bitcoin
ETFs.
The
agency
faces
Jan.
10
deadlines
decisions
on
several
ETF
applicants.
