Jim Cramer Describes Bitcoin, Gold As ‘Bad Money’ Getting Dumped For SpaceX — But ‘Good Money’ Apple And Nvidia Not Spared Either
Market commentator and popular media personality Jim Cramer dubbed Bitcoin (CRYPTO: BTC) and gold as “bad money” on Wednesday, which are getting dumped to participate in SpaceX’s upcoming IPO.
Good Vs. Bad
In an X post, Cramer posited that investors are liquidating assets to free up cash for SpaceX, expected to be the biggest stock market debut in history. But the way he described those assets raised some eyebrows.
The “Mad Money” host called Bitcoin and gold “bad money,” while referring to Nvidia Corp. (NASDAQ:NVDA) and Apple Inc. (NASDAQ:AAPL) as “good money,” all of which came under selling pressure.
Sign Of BTC Bottom?
Some users pushed back against Cramer’s characterization of gold as “bad money.” Bitcoin enthusiasts, meanwhile, celebrated the comment as a sign that the cryptocurrency had bottomed out—a nod to …
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