Jim Cramer, one of CNBC’s most renowned economists, made a striking statement following the sharp drop in Bitcoin ($BTC).
In a statement on the Market Alert program, Cramer said US President Donald Trump bought Bitcoin into the US Strategic Bitcoin Reserve at levels below $60,000 after it fell to that point.
It is known that $BTC’s price plunged dramatically this week, reportedly to around $60,000. During this recent decline, there is no official statement or any on-chain evidence that the US purchased Bitcoin.
U.S. officials and Trump had stated that they would not actively buy cryptocurrencies from the $BTC Strategic Reserve, but would add them to the reserve so it could be stored without being sold for sale.
Jim Cramer said his statement was based on “heardsay,” adding that the phrase. But after that, the Bitcoin price did indeed recover well, reversing back over $70,000.
*This is not investment advice.
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