Jim Cramer Sells Off Most of His Bitcoin Holdings Over China FUD

[Pluto25]

The ongoing crackdown on bitcoin mining facilities in China has fueled the already existing FUD in the crypto space, prompting several holders, including Mad Money host, Jim Cramer, to liquidate most of their bitcoin holdings.
In a recent report by CNBC, Cramer revealed that he had liquidated his bitcoins due to concerns over China’s new stance against cryptocurrencies.
According to Cramer, it is pointless trying to go against China, as it is home to a large portion of the bitcoin mining facilities in the world.

He said,

“Sold almost all of my bitcoin. Don’t need it… When the PRC goes after something, they tend to have their way. … It’s not a democracy. It’s a dictatorship. I think that they believe it’s a direct threat to the regime because what it is is a system that’s outside their control.”Read More