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Financial commentator and host of Mad Money Jim Cramer posted a tweet about the US government shutdown which is more than likely this Saturday.
This is expected to be because the newly elected US president disapproves of the 2025 funding bill, which includes salary increases and multiple benefits for Democratic Party members of Congress. Tech mogul and DOGE chief Elon Musk has also paid attention to this bill, opposing it on X.
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Jim Cramer says “buy fear, don’t sell it”
The president insists that Congress pass the bill without the aforementioned additional spending or wage increases, but which would allow the government to increase the national debt ceiling for the time being. If this bill is not passed, the government will face a temporary shutdown this week.
Jim Cramer tweeted that he had studied every government shutdown “since the days of Bill Clinton” to determine how best to respond to them in terms of investment. Therefore, Cramer said, “One should always BUY fear, not sell it. »
Crypto community responds to Cramer’s call
The crypto community responded to Jim Cramer’s tweet with a wave of comments as it frequently does, especially when Cramer talks about Bitcoin. We found that in 90% of cases, the market reacts to tweets from the host of Mad Money, and vice versa. So when Cramer predicts a decline in the market or in certain assets, including Bitcoin, everything goes up, and vice versa.
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Now that Cramer has tweeted about “buying fear” and not selling it, many commenters, including cryptocurrency fans, have started tweeting that it is definitely worth selling it and not selling it. ‘buy.
Over the past 24 hours, the world’s largest cryptocurrency, Bitcoin, has lost much of its gains added over the past month. Bitcoin declined by almost 10%, falling from the $102,450 zone and landing at $92,951. Currently, BTC has rebounded a bit and is changing hands at $95,200. The main reason for Bitcoin’s rapid and deep decline was Federal Reserve boss Jerome Powell’s recent statement that the Fed plans to slow down the high pace of interest rate cuts next year. Rather than the 100 basis point cut expected by the crypto community, the Fed plans to make a 25 basis point cut in early 2025.