CNBC Mad Money host Jim Cramer has labeled both Bitcoin and gold as "bad money" that is being liquidated in favor of high-growth tech stocks such as Nvidia and Apple. The statement, made in early June 2026, reflects a broader narrative that artificial intelligence equities are absorbing liquidity that might otherwise flow into crypto, contributing to Bitcoin's underperformance.
Cramer's latest criticism follows his recent accusation that Strategy co-founder Michael Saylor "murdered Bitcoin" after the company sold 32 BTC. He argued that the market may need to rethink its pro-Bitcoin stance regarding Strategy, while stopping short of calling the firm's influence manipulation, though some observers have done so.
The CNBC host acknowledged his own inconsistent relationship with crypto, having once invested half a million dollars into Bitcoin in 2021 after following advice from Anthony Pompliano. At the time, he was notably bullish. But by February 2026, Cramer questioned Bitcoin's utility and its role as a hedge against geopolitical conflicts.
BitMEX co-founder Arthur Hayes also weighed in, stating that "AI sucked up all created dollars," leaving Bitcoin without the capital necessary to sustain a bull run. This capital flight toward AI equities, particularly Nvidia, has outpaced crypto markets in terms of allocation, underscoring a significant shift in investor sentiment.
