CNBC’s Jim Cramer said Monday he’s offloaded most of his bitcoin holdings, expressing concerns around the recent crackdown on crypto mining by the Chinese government and bitcoin’s role in some ransomware attacks.
“Sold almost all of my bitcoin. Don’t need it,” Cramer said on “Squawk on the Street,” more than two months after he first indicated he trimmed his position and paid off a home mortgage with those profits.
The price of bitcoin fell more than 6% on Monday to roughly $33,000 per token, around a two-week low. The move lower follows a report in the Chinese Communist Party-backed Global Times newspaper that said more than 90% of the country’s mining capacity is shut down after…