Popular market commentator Jim Cramer offered a cheeky take on Bitcoin’s (CRYPTO: BTC) latest crash Sunday, urging Strategy Inc. (NASDAQ:MSTR) founder Michael Saylor to “jam up” the apex cryptocurrency.
Cramer’s Tongue-In-Cheek Remark
In an X post, Cramer proposed that Saylor should wait until about 6:30 pm to observe the S&P futures, and then attempt to push Bitcoin’s price up to $82,500 from $76,500.
“That way some ill-advised folks will shout double bottom and pay no attention to the break below $80.000,” the “Mad Money” host said.
Cramer Targets Defenders
Cramer made a series of posts on Bitcoin’s latest plunge below $76,000, its worst sell-off since early April.
He took on some Bitcoiners who brush off steep price drops and claim a double bottom—a bullish reversal signal—as soon as prices tick up even slightly.
The media personality also suggested that short sellers might be “trying to break” Saylor before the company’s earnings later this week.
Will Saylor Buy The Dip?
Saylor, who spearheads the world’s biggest Bitcoin-hoarding company, often drops cryptic Sunday X posts that have almost always preceded BTC acquisitions the following Monday.
He dropped another one with the caption, “More Orange,” suggesting Strategy will buy the latest dip.
Strategy didn’t immediately return Benzinga’s request for comment.
Cramer, who is invested in Bitcoin, said last year that he just wants Bitcoin, not any derivative or Bitcoin treasury companies.
He previously advocated for Bitcoin as a hedge against the escalating U.S. national debt, a sharp turnaround from writing off cryptocurrency as an investment just three years ago.
Price Action: At the time of writing, BTC was exchanging hands at $77,179.11, down 1.40% in the last 24 hours, according to data from Benzinga Pro.
Strategy shares closed 4.55% higher at $149.71 during Friday’s regular trading session. Year-to-date, the stock has fallen 1.47%.
MSTR maintained a weaker price trend over the short, medium, and long terms with a poor Value ranking, according to Benzinga’s Edge Stock Rankings.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: katz / Shutterstock.com
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