Cramer reveals how low bitcoin would have to go for him to start buying again – CNBC

Jim Cramer

Scott Mlyn | CNBC

CNBC’s Jim Cramer said Tuesday he’d be willing to buy bitcoin again if it were to really tank.

The “Mad Money” host’s comments came one day after he said he “sold almost all” of his bitcoin and as the world’s largest cryptocurrency fell more than 9%, trading below $30,000.

At one point, the digital currency slid below $29,026 — where it had ended 2020 — briefly turning negative for the year. Bitcoin traded at $29,056.70 as of 10:07 a.m. ET.

Tuesday’s move lower was a continuation of recent selling as China expanded its crackdown on crypto mining and urged financial institutions not to provide services to the industry.

Bitcoin has plunged more than 50% from its all-time high in April near $65,000. At the time, it had a market value of more than $1 trillion.