According to CoinDesk, former hedge fund manager and host of CNBC's Mad Money, Jim Cramer, expressed his continued bearish stance on cryptocurrency on Tuesday evening. This contrasts with the views of another hedge fund manager, Paul Tudor Jones, who spoke earlier that day on CNBC. Cramer stated, "I can't go out with gold because gold is not good; I can't go out with bitcoin [BTC] because I can't be in something where Mr. Bitcoin is about to go down big." It is unclear if "Mr. Bitcoin" refers to the ongoing trial of Sam Bankman-Fried or to bitcoin in general, but Cramer's bearishness was evident.

Despite being far from its all-time high of $68,000 reached in the 2021 bull market, bitcoin is still trading up 68% since the start of the year. Cramer had previously stated in June 2021 that he had sold most of his bitcoin holdings following China's crackdown on crypto miners. He also said during the same time period that bitcoin had structural issues and its price would likely fall further.

In contrast, billionaire hedge fund giant Paul Tudor Jones appeared on CNBC earlier on Tuesday, expressing his support for both bitcoin and gold due to the combination of extensive geopolitical risk and rising U.S. government debt levels.