Did Cramer sell all of his bitcoin?

“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.

Does 'Mad Money' host Jim Cramer need bitcoin?

“Sold almost all of my bitcoin.Don’t need it,” CNBC’s Jim Cramer said Monday. The “Mad Money” host expressed concerns about the mining crackdown in China and ransomware attacks in the U.S. “I’m saying that this is not going up because of structural reasons,” Cramer said.

What happened to bitcoin?

Monday’s 17% plunge sent bitcoin under $23,000. That’s a 66% nosedive from its all-time high in November. The world’s largest cryptocurrency is no stranger to so-called crypto winters that have given way to eventual recoveries back to records.

What does a bitcoin miner do?

Miners play a crucial role in the bitcoin ecosystem, using high-powered computers toverify transactions across the decentralized blockchain. In exchange, they are rewarded with bitcoin. “When the PRC goes after something, they tend to have their way. ... It’s not a democracy.