Bitcoin SURGE Continues | Cramer Finally Gets It

Bitcoin experienced a significant surge after a dip, exceeding 96,000, with predictions of reaching 100,000 soon, potentially driven by increased money supply and institutional adoption. Jim Cramer's recent comments suggest a change of heart towards Bitcoin, although his past inconsistent views are noted, and the speaker discusses the potential for a 'November 28th phenomenon' where Bitcoin could reach significant milestones.

Bitcoin Price Surge

• 00:00:05 Bitcoin's price rose significantly after a dip, exceeding 96,000 and potentially heading towards 99,000 or 100,000. The speaker attributes the surge to a combination of factors, including increased money supply, a weakening US dollar, and institutional interest. The speaker believes that dips are buying opportunities due to increased confidence in Bitcoin's future.

Jim Cramer's Bitcoin Views

• 00:00:57 Jim Cramer, a well-known financial personality, appears to have changed his views on Bitcoin, acknowledging its potential as a hedge against government debt. While Cramer has been inconsistent in his past Bitcoin opinions, the speaker believes he now understands the rationale for Bitcoin adoption. This change of heart could influence more mainstream investors to consider Bitcoin.

US Dollar & Money Supply

• 00:03:30 The speaker believes that the weakening US dollar and growing money supply worldwide, including stimulus efforts by China and the US, are bullish factors for Bitcoin. The speaker anticipates that the money supply will continue to increase, leading to inflation and further Bitcoin price increases. These factors are expected to continue into the next year.

Institutional Adoption

• 00:12:54 Many institutions are increasing their Bitcoin holdings, including MicroStrategy, Mara, and the potential for Microsoft. The speaker emphasizes the potential impact of large companies embracing Bitcoin and allocating capital towards it. This increased institutional adoption is contributing to the supply shock and the current bull market.

November 28th Phenomenon

• 00:22:24 Historically, Bitcoin has reached significant price milestones on November 28th, including 1,000 in 2013 and 10,000 in 2017. The speaker discusses the possibility that Bitcoin could hit 100,000 on November 28th, 2023, given the current price level. This potential phenomenon is discussed in light of Bitcoin's recent price action and the speaker's belief in the ongoing bull market.