Jim Cramer, one of CNBC’s most renowned economists, made a striking statement following the sharp drop in Bitcoin (BTC).
Speaking on the Market Alert program, Cramer argued that US President Donald Trump bought Bitcoin into the US Strategic Bitcoin Reserve at levels below $60,000 after the price dropped to that point.
As is known, the price of BTC experienced a significant drop this week, falling to around $60,000. There is no official statement or any on-chain evidence that the US bought Bitcoin during this recent decline.
US officials and Trump had stated that they would not actively purchase cryptocurrencies from the BTC Strategic Reserve, but instead would add them to the reserve to be stored without being sold.
Jim Cramer added that his statement was based on hearsay. However, after falling to that level, the Bitcoin price did indeed experience a strong recovery, rising back above $70,000.
*This is not investment advice.
