• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

Cramer's Bitcoin U-turn

Cramer hasn’t always been pro-Bitcoin. After the crypto market crash and the dramatic downfall of the cryptocurrency exchange FTX in November 2022, Cramer shared damning commentary on CNBC on the value of digital assets — and the intelligence of those who own them.

“I sold all my crypto … I would not touch crypto in a million years because I wouldn’t trust the deposit bank,” he said. “If you have your money in [crypto], I’m not calling you an idiot; I’m just saying you have blind faith.”

But Cramer has since taken a dramatic U-turn on that position thanks to Bitcoin’s “remarkable comeback” in 2023 and now advises his followers: “If you like Bitcoin, just buy Bitcoin.”

Part of the reason for Bitcoin’s recent rally has been investor excitement about the prospect of spot Bitcoin ETFs, which could potentially result in huge growth in the market.

While the U.S. Securities and Exchange Commission (SEC) has so far blocked attempts to launch them — arguing the market is vulnerable to manipulation — SEC chair Gary Gensler told CNBC in December that regulators are “taking a new look” at spot Bitcoin ETFs.

Regulators are expected to make an announcement regarding these ETFs in early January. If they once again block development, it could potentially pause the Bitcoin rally.

Meet Your Retirement Goals Effortlessly

The road to retirement may seem long, but with WiserAdvisor, you can find a trusted partner to guide you every step of the way

WiserAdvisor matches you with vetted financial advisors that offer personalized advice to help you to make the right choices, invest wisely, and secure the retirement you've always dreamed of. Start planning early, and get your retirement mapped out today.

Get Started

Munger's Bitcoin bashing

Munger — who died Nov. 28, 34 days shy of his 100th birthday — was a world-renowned investor who worked tirelessly as Warren Buffett’s right-hand man at Berkshire Hathaway.

Not one to mince words, Munger took several broad swipes at cryptocurrencies in recent years. In February, he penned an op-ed for the Wall Street Journal wherein he described crypto as “a gambling contract with a nearly 100% edge for the house” and called for an outright ban on cryptocurrency.

At the Daily Journal’s 2023 annual shareholder meeting, shortly after the op-ed was published, Munger said of crypto: “It’s massively stupid. It’s very dangerous. The governments were totally wrong to permit it. I’m not proud of my country for allowing this crap. It's worthless, it's no good, it's crazy, it'll do nothing but harm.”

He later trashed Bitcoin, specifically, in a keynote address at Zoom’s Zoomtopia 2023 conference in October, where he said: “Don’t get me started on Bitcoins. Most of those investments are going to zero.”

Although investments have yet to plunge to zero as Munger suggested may happen, if anything, Bitcoin’s recent rally has shown crypto to be an incredibly volatile play.

Munger was not known to place risky bets. Instead, he made his billions through value investing and buying and holding high-quality stocks to reap the benefits of compound interest.


Follow These Steps if you Want to Retire Early

Secure your financial future with a tailored plan to maximize investments, navigate taxes, and retire comfortably.

Zoe Financial is an online platform that can match you with a network of vetted fiduciary advisors who are evaluated based on their credentials, education, experience, and pricing. The best part? - there is no fee to find an advisor.

About the Author

Bethan Moorcraft

Bethan Moorcraft


Bethan Moorcraft is a reporter for Moneywise with experience in news editing and business reporting across international markets.

What to Read Next


The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.