Betting Against Jim Cramer Works For A Crypto Trader

Betting against Jim Cramer works for a crypto trader with the twitter handle AIgod, who stated that he’s quadrupled his “Inverse Cramer” portfolio in just a month by “simply” inverse trading against CNBC’s Mad Money host Jim Cramer.

On Aug. 22, the trader, who gained famous on Twitter for foreseeing Terra Luna’s collapse earlier this year, stated he had just changed to a long position on his inverted Jim Cramer account in response to Cramer’s gloomy post about the Nasdaq.

Was a bit late but flipped long on the Cramer account, Jim bearish on Nasdaq is good indicator for crypto

Trade on decentralized derivatives here: https://t.co/z7XBNybcRr (if you use leverage do it responsibly) https://t.co/yr1iDSzROf pic.twitter.com/u9QdlbIFcb

— Algod🫐 (@AlgodTrading) August 23, 2022

Earlier that day, Algod claimed that the inverse Cramer account had “officially doubled” for the first time, hitting a net worth of $101,440.71, up from $51,470.56 when he used 35 ETH as collateral on July 19.

Big Money For Opposite Bets

According to his most recent Tweet, AIgod’s inverse account has a net worth of $97,007.62, signifying an 88.47% return on his initial investment.

CNBC’s Mad Money is hosted by Jim Cramer, a former hedge fund manager. He is well-known in the financial world, but others in the crypto community feel it is better to gamble against his cryptocurrency and stock recommendations.

The “Inverse Cramer” has become something of a meme after a simple notion was promoted on Reddit and Twitter. If Cramer suggests selling a stock, buy it. If he suggests purchasing a stock, sell it. It appears that betting against Jim Cramer works.

There’s also an Inverse Cramer ETF Twitter account with over 84,900 followers that’s “following Jim Cramer’s stock recommendations so you can do the opposite.”

Some people work a 9-5 job, i simply just countertrade Cramer

it's not much but honest work

— Algod🫐 (@AlgodTrading) August 22, 2022

AIgod rose to prominence in the crypto sector after a $1 million wager with Terraform Labs CEO Do Kwon, in which AIgod stated that the price of Terra’s LUNA token will fall below $88 in one year, beginning March 14, 2022.

Luna dropped from an all-time high of almost $120 to $0.84 in less than two months.

Jim Cramer: Who Is He Really?

Jim Cramer is a television personality and an author. He is the host of Mad Money which is on CNBC and an anchor on Squawk on the Street. He is a former hedge fund manager, founder and senior partner of Cramer Berkowitz.

Weirdly enough, he is a Harvard College graduate with a Bachelor of Arts in government. He graduated magna cum laude.

After that he worked for a while as a reporter, and then went back to school (Harvard Law School) where he made his first foray into stocks and investments.  From there, the rest is history.

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