Benzinga - Jim Cramer, the popular host of CNBC's Mad Money, has been a vocal critic of cryptocurrencies, but his predictions about Bitcoin (CRYPTO: BTC) have been repeatedly off the mark, which includes one in which he predicted the king crypto's demise.
When Bitcoin broke the $17,000 price in January, Cramer said it was an excellent opportunity to exit the market.
In his words: “[It is a] good chance again to get out of crypto and scale out of Chinese stocks as neither can be trusted.”
Good chance AGAIN to get out of crypto and scale out of Chinese stocks as neither can be trusted— Jim Cramer (@jimcramer) January 9, 2023
Cramer's doom and gloom aside, BTC has yielded 63.4% so far since 2023 began. The returns of blockchain gold have been better than its precious metal version which has only seen YTD returns of 8.3% so far this year.
The Investment: If you invested $100 in Bitcoin when Cramer told you to get out of crypto, you would have purchased your coins at $17,196.55. This means you would have received 0.0058 BTC for your money. At the time of writing, Bitcoin was seen trading at $27,129.37. Therefore $100 investment would have turned into $157.76. A gain of nearly 57.8%.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.