Market commentator and popular media personality Jim Cramer dubbed Bitcoin (CRYPTO: BTC) and gold as “bad money” on Wednesday, which are getting dumped to participate in SpaceX’s upcoming IPO.
Good Vs. Bad
In an X post, Cramer posited that investors are liquidating assets to free up cash for SpaceX, expected to be the biggest stock market debut in history. But the way he described those assets raised some eyebrows.
The “Mad Money” host called Bitcoin and gold “bad money,” while referring to Nvidia Corp. (NASDAQ:NVDA) and Apple Inc. (NASDAQ:AAPL) as “good money,” all of which came under selling pressure.
Bitcoin and gold–bad money, being liquidated for SpaceX. Apple and Nvidia –good money–being liquidated
— Jim Cramer (@jimcramer) June 10, 2026
Sign Of BTC Bottom?
Some users pushed back against Cramer’s characterization of gold as “bad money.” Bitcoin enthusiasts, meanwhile, celebrated the comment as a sign that the cryptocurrency had bottomed out—a nod to the popular “Inverse Cramer” meme, which treats doing the opposite of Cramer’s advice as a contrarian trading strategy.
Bottom signal?
— ZUBY: (@ZubyMusic) June 10, 2026
Read Also: SpaceX IPO Valuation Is Worth More Than Boeing, RTX, GE Aerospace And Every Other S&P 500 Aerospace Firm Combined: Report
SpaceX Driving Sell-Offs Everywhere?
Cramer has expressed concerns that growing speculation about SpaceX and its eventual inclusion in the S&P 500 could be fueling an unusual rotation out of some of the market’s biggest winners, including the “Mag 7” stocks.
As for Bitcoin, Cramer said last week that he may have to “reevaluate” his bullish stance after Strategy Inc. (NASDAQ:MSTR) disclosed that it has sold some of its underlying holdings. He framed Bitcoin as a hedge against rising U.S. debt last year.
The assets he mentioned have indeed experienced some losses in the lead-up to the highly anticipated IPO on Friday.
|
Cryptocurrency |
30-Day Gains +/- |
|---|---|
|
Bitcoin |
-1.48% |
|
Spot Gold |
-8.83% |
|
Nvidia |
-6.17% |
|
Apple |
-6.94% |
A sudden rally in space stocks has also coincided with a drop in Bitcoin, which some market strategists attribute to the anticipated SpaceX IPO.
Price Action: At the time of writing, BTC was exchanging hands at $61,974.63, up 1.07% in the last 24 hours, according to data from Benzinga Pro.
