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Famous CNBC host Jim Cramer Advises Against Buying MicroStrategy Stock: Here’s Why
Jim Cramer, the well-known CNBC host and financial personality, has issued a cautionary statement urging investors not to buy shares of business intelligence firm MicroStrategy.
Cramer, famous for his bold market predictions, suggested that those seeking exposure to Bitcoin should consider purchasing the cryptocurrency directly rather than through MicroStrategy’s stock.
Don’t Buy MicroStrategy’s
On Monday’s episode of Mad Money, renowned CNBC host Jim Cramer, known for his outspoken views on finance and cryptocurrencies, advised against purchasing MicroStrategy (MSTR) stock.
Cramer further advises investors to consider buying the bitcoin directly, rather than investing in companies like MicroStrategy.
Cramer’s cautionary remarks were prompted by significant price fluctuations in Bitcoin, which surged above $74,000 before retracing to $58,000.
Despite this volatility, MicroStrategy has notably outperformed Bitcoin on a year-to-date basis, catching the attention of investors and analysts alike.
MicroStrategy’s Bullish Case
Recently, investment banking firm TD Cowen predicted significant growth for MicroStrategy this year, fueled by institutions entering Bitcoin exchange-traded funds (ETFs).
Meanwhile, TD Cowen believes that institutions’ entry into Bitcoin ETFs could serve as a significant bullish catalyst for MicroStrategy.
Apart from this, MicroStrategy is expected to benefit from the potential rejection of Ethereum-based spot ETFs later this month.
Moreover, Michael Saylor is confident that Bitcoin ETFs won’t threaten MicroStrategy, highlighting the company’s value of providing “intelligent leverage” without ETF fees.
Previous Financial Performance
In its most recent quarterly report, MicroStrategy disclosed a net loss of $53.1 million.