Jim Cramer Gives Worst Financial Advice of His Life since The Daily Show | Crypto News

We've seen Bitcoin double in Anticipation of being wrapped up into an ETP that's a cousin of ETFs That was Supposed to bring in many many new Investors billions upon billions of Dollars came in to run ahead of the Suckers who bought who would buy the ETP When it was launched American television Personality Jim Kramer gives his final Plea for you to sell your Bitcoin says The ETFs were a failure and you were a Sucker if you bought the launch has been Ton to say the least in fact there's Been an actual outlow Outlow of crypto ETP money for the past Few days and let's get into that I want To share with you the true numbers Overall less than a billion dollar of Net new money has come in these new spot Bitcoin etps since they started trading Two weeks ago when people thought there Would be tens of billions of dollars Coming in update black rocks ETF now Holds about $2 billion in Bitcoin they Have been the biggest dip buyers Fidelity is very close behind and yes Gray scale is massively selling they Started out with over $26 billion in Bitcoin it was already there and of Course what Jim Kramer won't share with You some of this has been locked up for Years and many now have to wait 30 days To get back into better Bitcoin ETFs you Have lots of investors that went in the

Grayscale Bitcoin trust at 2% they Bought it at uh the Bitcoin of 50,000 60,000 69,000 and so when the ETF became Available and they were able to sell the Gra stale Bitcoin trust and take a loss For tax purposes and you guys know this They have to wait 30 days before they Can reload but it's a great Arbitrage For these people they can go from a 2% Trust into a 21 basis point ETF and they Have to wait and there's a lot of churn You know the entire market cap of Bitcoin was 487 billion on June 14th When Black Rock filed for their ETP and Then it red to $920 billion right before The SP to be started trading as Bitcoiners all over the world ran ahead Of all the suckers who were supposed to Come in and take them out of the trade So even though Bitcoin dipped in total Just about 20% Which has been very Normal a great by the dip opportunity Well now bitcoin's up huge huge amount And the expected boom is a bust that Means Bitcoin speculators up usuge and The legendary Larry Williams who Predicted the exact cop is now saying That people are getting still one more Chance to sell Bitcoin but then it's all Over but the shouting man you know what You can buy a lot of cashmere sweaters Oh closet of them with that pricey Bitcoin but the bottom line as Wall

Street increasingly realized it's time To ring the register kaching kaching I'm Begging you to take something off the Table if you haven't done so already now Over and over again in his career Jim Kramer has told you to buy when you Really should have sold or told you to Sell when you really should have bought Good chance again to get out of crypto At the beginning of 2023 Bitcoin Rose 40% Netflix is a buy Netflix went down To drop 57% this is legitimately called The reverse Kramer effect and even in The now Infamous housing market collapse Of 0708 when the banks started to go Insolvent like Bear Sterns I think my Sources indicate the Bear's totally Solvent that there's not an issue my Understanding is very firmly that bear Is not in trouble even John Stewart of The Daily Show confronted him back in The day how the hell did we end up here Mr Kramer asked him why I can't Reconcile the Brilliance and knowledge That you have of the intricacies of the Market with the crazy bull I see you do Every night there's a market for it and You give it to them and I think there's A market for cocaine and hookers and Let's not forget Jim Kramer is a very Smart individual he is not just an American television personality but a Former hedge fund manager who knows how This works you knew what the banks were

Doing and yet were touting it for months And months the entire network was and so Now to pretend that this was some sort Of crazy once in a lifetime tsunami that Nobody could have seen coming is Disingenuous at best and criminal at Worst and even though Jim Kramer today Is telling you sell it now sell a little It's the disciplined thing to do I am Not saying sell everything I am not Saying get out now I am saying do a Little Schnit and you won't regret it I think You will regret it not that taking Profits isn't smart and at top of Cycles If you believe this to be it's always Good but at least give us the real stats Because the grayscale selling although It was maybe bigger than people expected Is almost over Black Rock just lit up The Bitcoin ETF scene leaving gbtc Volume in the dust for the first time This was yesterday actually Bitcoin Surged 5% yesterday after grayscale ETF Outflows fell almost 50% to now only 255 Million imagine when they stop and Actually compared to traditional markets The Bitcoin ETFs were a huge success Over 600 ETFs have launched since the Start of 2023 and black Rock's spot Bitcoin ETF is already in top three Based on current assets and New Black Rock is on track to be number one by Next week with by the way Fidelity in

The top seven as well and all this is Before the big advertising Google to Start allowing Bitcoin ETF ads in just a Few days effective from the 29th of January cryptocurrency does not seek to Replace currency it's a bad name Cryptocurrency seeks to replace Banking And in this 90 second clip expert Brian Brooks simply explains the real reason Why Jamie Diamond hates Bitcoin the core Things that banks have done since the 1300s those are going to go away 100% And and let's just be clear what I I Mean by that the reason that we even Have Banks Banks originated in Italy Around the year like 1340 all right and The reason they originated was because Of a set of accounting advances that Allowed Banks to serve as trusted Intermediaries between parties that owed Each other money before that literally I Would write you a note and I would Promise to pay you money and you'd put The note in your pocket and you'd see if Anybody else would take the note you Know that's that's why we prefer to Discounting notes and then Banks arose And it was like you no longer need to do That we'll take care of it for you but You're going to have to pay us to do That that function of needing a trusted Intermediary to maintain ledgers of Account to figure out do I owe Brooks Money or does Brooks owe me money it

Turns out that function no longer has to Be done by human beings the same way we Don't need postal clerks anymore I can Send you an email for free and it's Instant and that's just the end of the Post office sorry but it just is and of Course banks are not going away they're Now only becoming specialized the the What's going to be left for banks is the High value ads Services you know Structured Finance investment advisory You know uh all of the things that make A dynamic economy function we we still Need people to do that there's a lot of Creativity going on in finance but the Core of banking the base of the pyramid The thing that drives most of their Revenue doesn't need to exist and that's Why I say and I was saying to one of the Organizers even before we stood up in This panel cryptocurrency does not seek To replace currency it's a bad name Cryptocurrency seeks to replace banking This is an on going story click Subscribe to stay informed help us get To 1.4 million and if I can make one Recommendation for you be sure to watch This video top five polka dot par chain Crypto gems if you want to learn about Newer lower cap altcoins this is linked Down below and be sure to catch myself And my brother in our new TV show Premiering next month it's killer whales TV like a crypto Shark Tank and you have

No idea how this will end I want to Share something But Us Aaron and I especially growing up Loved Pokémon classic card game we all Grew up with I would take my little Charizard Aaron would take his little Bulbasaur and I'd beat him every time One thing that I loved about Pokemon Which obviously was a cultural Phenom Was that Community seems like you're in A very good place so I don't understand The problem like what is that next step To get you into the mainst stream that Was my question is the numbers look Great but how come I've never heard of The game like always see tomorrow