U.Today – , the first and largest cryptocurrency by market capitalization, has risen nearly 473% since Jim Cramer, host of CNBC's “Mad Money,” called it a “scam” about two years ago.
Bitcoin historian Pete Rizzo brought this fascinating fact to light in a recent X post, prompting some soul-searching in the cryptocurrency market.
In January 2023, as Bitcoin traded above the $16,000 mark, Cramer called it “fake and a scam,” adding that cryptocurrency prices are “being propped up by people who want them to stay “. Cramer previously invested in Bitcoin and non-fungible tokens (NFTs), but sold all of his crypto assets before that time.
The Mad Money host would later warn investors to stay away from cryptocurrencies and tell them to get their money out while they can. Cramer also stated that he “wouldn't touch cryptocurrencies in a million years” as he believed they were mainly scams.
Fast forward to January 2025, and Bitcoin is now trading above $96,000. Taken from the time of Cramer's statement (according to CNBC's “Squawk on the Street” video clip shared by Rizzo) when Bitcoin was trading at $16,807, the leading cryptocurrency has gained nearly 473% since then.
Bitcoin predictions for 2025
At 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 long-awaited $100,000 mark, reaching a record high of $108,268 on December 17.
CNBC recently published a compilation of Bitcoin price predictions for 2025. Matrixport, a crypto financial services company, predicts that Bitcoin will reach $160,000 in 2025. Alex Thorn, head of research at a cryptocurrency-focused asset manager digital galaxy (TSX:), believes Bitcoin will cross $150,000 in the first half of the year before reaching $185,000 in the fourth quarter.
Geoffrey Kendrick of Standard Chartered (OTC:) predicts that the price of Bitcoin will 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 financial platform Maple Finance, believes Bitcoin will trade between $180,000 and $200,000 by the end of 2025.
This article was originally published on U.Today.
