Binance Chief Executive Officer (CEO) Changpeng Zhao popularly referred to as CZ made a statement mocking Jim Cramer’s prediction against Bitcoin (BTC).
The outstanding spike in BTC price from around $16,000 to more than $20,000 currently has downplayed many of the forecasts that were made against the coin including that of CNBC Mad Money host Jim Cramer.
In the first week of December when BTC was trading around $16,000 and $17,000, the American media personality urged crypto investors to do away with their holdings. In Cramer’s opinion, the crypto market is in for a deeper plunge which he believes would happen this year. Jim advised these investors to be more vigilant of the ‘speculative asset class.’
“You can’t just beat yourself up and say, ‘hey, it’s too late to sell.’ The truth is, it’s never too late to sell an awful position, and that’s what you have if you own these so-called digital assets,” he said. Again on the 9th of January, he posted a tweet reminding investors that they should get out of crypto in addition to scaling out of Chinese stocks which he claimed could not be trusted.
BTC Reach $21K Since FTX Implosion
Referring to this latest tweet, Zhao commented “This is just too accurate now. Cramer posted this on Jan 9, the day before Bitcoin went from 16k to 20k.” Sarcastically, CZ added “Please continue to FUD crypto!” referring to the fear, uncertainty and doubt about the crypto market that many anti-crypto entities have been propagating.
During the implosion of the FTX exchange more than two months ago, Bitcoin price dipped to as low as $15,883 from more than $21,000.
Since then, this is the first time BTC has recovered its $21,000 price. Markedly, the CNBC Mad Money host is not the only entity that has been vocal about his speculative stance on Bitcoin. United States economist Peter Schiff is completely a critic when it comes to the largest digital currency by market cap.
Unlike Cramer, Schiff asked investors to sell off their BTC portfolio when the coin was almost at $19,000 a few days ago. He perceived the hike in price as an opportunity that he expects investors to leverage.