Bitcoin Proves Jim Cramer's 'Scam' Remark Wrong, BTC Up 473%

U.Today - Bitcoin , the first and largest cryptocurrency by market capitalization, has increased by nearly 473% since Jim Cramer, host of CNBC's "Mad Money," labeled it a "scam" about two years ago.

Bitcoin historian Pete Rizzo brought this fascinating fact to light in a recent X post, prompting reflection in the crypto market.

In January 2023, while Bitcoin traded above the $16,000 mark, Cramer referred to it as "phony and a scam," adding that crypto prices are "being propped up by people who want them propped up." Cramer previously invested in Bitcoin, Ether and non-fungible tokens (NFTs), but he sold all of his crypto assets before that time.

The Mad Money host would later go on to warn investors to stay away from crypto, telling them to get their money out while they could. Cramer also stated he would "not touch crypto in a million years" as he believed they were primarily scams.

Fast forward to January 2025, and Bitcoin is now trading above $96,000. Taken from the time of Cramer's statement (going by the CNBC "Squawk on the Street" video clip shared by Rizzo) when Bitcoin was trading at $16,807, the lead cryptocurrency has gained nearly 473% since then.

Bitcoin 2025 predictionsAt the time of writing, Bitcoin was up 3.16% in the last 24 hours to $96,568. In December, the world's largest cryptocurrency surpassed the much anticipated $100,000 mark, reaching a record high of $108,268 on Dec. 17.

CNBC recently published a compilation of Bitcoin price predictions for 2025. Matrixport, a crypto financial services firm, predicts that Bitcoin will reach $160,000 by 2025. Alex Thorn, head of research at crypto-focused asset manager Galaxy Digital (TSX:GLXY ), believes Bitcoin will cross $150,000 in the first half of the year before reaching $185,000 in the fourth quarter.

Standard Chartered (OTC:SCBFF )'s Geoffrey Kendrick predicts Bitcoin's price to double. The bank's head of digital asset research predicted that Bitcoin would reach $200,000 by the end of 2025.

Sid Powell, co-founder and CEO of centralized finance platform Maple Finance, believes Bitcoin will trade between $180,000 and $200,000 by the end of 2025.

Source: Investing.com