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"Cramer: Bet on Bitcoin, Not MicroStrategy; MSTR Stock Drops Amid Crypto Market Downturn"

Coin WorldTuesday, Jan 28, 2025 1:01 pm ET

1min read

Jim Cramer, a prominent financial analyst and host of CNBC's "Mad Money," has recently shared his views on the cryptocurrency market, specifically advising investors to bet on Bitcoin (BTC) while skipping MicroStrategy (MSTR). This advice comes amidst a backdrop of significant developments in the crypto sphere, including MicroStrategy's latest Bitcoin purchase and the listing of XLM and SHIB on Bitget with USDC.

MicroStrategy, a business intelligence company, announced on Monday, Jan. 27, that it had acquired an additional $1.1 billion in Bitcoin, marking its 12th consecutive weekly purchase. The average price for this latest acquisition reached $105,596, the highest price level so far. MicroStrategy's total Bitcoin holdings have now reached 471,107, valued at nearly $47 billion at the moment of purchase. Following this most recent purchase, the company's average buying price for Bitcoin stands at $64,511.

Despite this significant investment in Bitcoin, MicroStrategy's stock (MSTR) experienced a nearly 6% decline in premarket trading. This decline coincided with a broader downturn on the crypto market, which was caused by the launch of a highly affordable and open-source model by DeepSeek, an obscure Chinese AI startup. Bitcoin dropped by 5% to $99,103, shares of Nvidia (NVDA) were down as much as 13%, and Microsoft (MSFT) plunged by nearly 7%.

In other news, Bitget announced on Monday that it had added five new trading pairs against Circle's major stablecoin, USDC. Apart from tokens like Injective's INJ, Phala Network (PHA), and RENDER, this new wave of listing also introduced such popular digital assets as Stellar (XLM) and Shiba Inu (SHIB). The key point is not just that these coins are now listed with USDC but that the second-largest stablecoin has gained acceptance on this exchange, particularly alongside one of the most popular cryptos at the moment. Currently, the USDC vs. USDT pair ranks 11th among all trading options on Bitget with $32.43 million. It appears that the exchange's strategy is to reduce USDT's dominance by offering USDC trading options. If that is the case, the selection of tokens

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