{"id":21756,"date":"2026-02-10T21:25:55","date_gmt":"2026-02-10T21:25:55","guid":{"rendered":"https:\/\/bitunikey.com\/news\/jim-cramer-faces-backlash-over-bitcoin-claims-as-market-spins-downward\/"},"modified":"2026-02-10T21:26:06","modified_gmt":"2026-02-10T21:26:06","slug":"jim-cramer-faces-backlash-over-bitcoin-claims-as-market-spins-downward","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/jim-cramer-faces-backlash-over-bitcoin-claims-as-market-spins-downward\/","title":{"rendered":"Jim Cramer faces backlash over Bitcoin claims as market spins downward"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">CNBC\u2019s Jim Cramer claimed the Trump administration may buy Bitcoin for a proposed U.S. Strategic Reserve, reportedly targeting a $60,000 entry price amid recent market volatility \u2014 a statement denounced by George Noble, former aide to famed investor Peter Lynch.<\/p>\n<div id=\"cn-block-summary-block_f1634610f5704d5c4ddf470c90715266\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Cramer suggested on CNBC that the U.S. government would buy Bitcoin at $60,000.<\/li>\n<li>The assertion drew backlash from George Noble, who called the claim \u201ccomplete nonsense\u201d and noted Cramer\u2019s history of inaccurate market predictions.<\/li>\n<li>Treasury testimony and blockchain data confirm the government cannot legally buy Bitcoin with public funds; current holdings come only from criminal seizures, and wallets have remained unchanged.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Noble described Cramer\u2019s assertion as \u201ccomplete nonsense,\u201d highlighting that the remarks came at a time when Bitcoin had fallen 52% from its October high, wiping out over $1.2 trillion in market value. \u201cNo source. No evidence. No documentation. Just \u2018I heard,\u2019\u201d Noble <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/gnoble79\/status\/2020899701151687154?s=20\">wrote<\/a> on X.com, criticizing Cramer\u2019s history of inaccurate market predictions, including his prior calls on Bear Stearns and Silicon Valley Bank.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Jim Cramer is a FRAUD.<\/p>\n<p>This guy really just went on CNBC and said the government is buying Bitcoin at $60,000.<\/p>\n<p>Let me tell you why his narrative (and Bitcoin) is COMPLETE NONSENSE:<\/p>\n<p>Friday, Bitcoin crashes to $60,000. Down 52% from its October high. Over $1.2 trillion in value\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/Z2zGrYgjIx\">pic.twitter.com\/Z2zGrYgjIx<\/a><\/p>\n<p>\u2014 George Noble (@gnoble79) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/gnoble79\/status\/2020899701151687154?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 9, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Citing Treasury testimony and blockchain analytics, Noble emphasized that the federal government has no legal authority to buy Bitcoin with public funds. A 2025 executive order limits government-held Bitcoin to assets obtained from criminal seizures, and blockchain firm Arkham reports government wallets holding 328,000 BTC have remained untouched for over a month.<\/p>\n<p>\u201cZero on-chain evidence. Zero official confirmation. Zero legal authority,\u201d Noble wrote, urging investors to question motives behind media narratives during market panic. He contrasted Bitcoin\u2019s performance with gold, noting that while Bitcoin lost half its value, gold surged to $5,020 an ounce, highlighting its role as a stable store of value.<\/p>\n<p>Noble concluded with a lesson from Lynch: \u201cWhen someone tells you to buy during a panic, ask what they own. If they can\u2019t show you receipts, they\u2019re showing you the exit.\u201d<\/p>\n<p>The exchange underscores ongoing scrutiny over cryptocurrency commentary and raises questions about the influence of high-profile financial media figures on investor behavior during volatile markets.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CNBC\u2019s Jim Cramer claimed the Trump administration may buy Bitcoin for a proposed U.S. Strategic Reserve, reportedly targeting a $60,000 entry price amid recent market volatility \u2014 a statement denounced&hellip;<\/p>\n","protected":false},"author":1,"featured_media":9764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-21756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=21756"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21756\/revisions"}],"predecessor-version":[{"id":21757,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21756\/revisions\/21757"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/9764"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=21756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=21756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=21756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}