Summary:
Bitcoin has surged by nearly 473% since Jim Cramer called it a "scam".
Cramer described Bitcoin as "phony and a scam" in January 2023 when it was above $16,000.
By January 2025, Bitcoin is trading at over $96,000.
Predictions for Bitcoin's price in 2025 range from $160,000 to $200,000.
Bitcoin, the first and largest cryptocurrency by market capitalization, has skyrocketed by nearly 473% since Jim Cramer, host of CNBC's Mad Money, labeled it a "scam" about two years ago. This remarkable statistic was highlighted by Bitcoin historian Pete Rizzo in a recent post on X, prompting significant reflection within the crypto market.
In January 2023, when Bitcoin was trading above $16,000, Cramer described it as "phony and a scam," claiming that crypto prices were "being propped up by people who want them propped up." Notably, Cramer had previously invested in Bitcoin and non-fungible tokens (NFTs) but sold all his crypto assets prior to making that statement.
Fast forward to January 2025, and Bitcoin is now trading above $96,000. From the time of Cramer's statement, when Bitcoin was valued at $16,807, the leading cryptocurrency has gained nearly 473%.
Bitcoin 2025 Predictions
As of now, Bitcoin is up 3.16% in the last 24 hours, trading at $96,568. In December, Bitcoin surpassed the much-anticipated $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 firm, forecasts that Bitcoin will reach $160,000 by 2025. Alex Thorn, head of research at crypto-focused asset manager Galaxy Digital, predicts Bitcoin will cross $150,000 in the first half of the year before hitting $185,000 in the fourth quarter.
Geoffrey Kendrick from Standard Chartered predicts Bitcoin's price will double, estimating it could hit $200,000 by the end of 2025. Sid Powell, co-founder and CEO of Maple Finance, also believes Bitcoin will trade between $180,000 and $200,000 by the end of the same year.
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