Irish Journalist: XRP Lawyer Responds Wittingly to Jim Cramer’s Bitcoin Prediction
In a recent lawsuit between the SEC and over 75,000 XRP holders, attorney Deaton had a witty response to Jim Cramer’s Bitcoin prediction. Deaton, who represented the XRP holders, replied to a tweet about Cramer’s forecast, stating, “Glorious news. Literally, bought more Bitcoin.” Cramer, a former hedge fund manager, had initially claimed that Bitcoin was “here to stay” but later stated that it was “topping out.” However, as expected, Cramer’s prediction turned out to be contrary, as Bitcoin reached a 21-month high, setting a new yearly record.
At the time of writing, Bitcoin was up by 4.31% to $46,855, according to available data. On Monday, Bitcoin reached a high of $47,330 in trading, surpassing the $47,000 mark for the first time since April 2022. This surge in Bitcoin’s value contradicted Cramer’s prediction and demonstrated the cryptocurrency’s strong performance.
On Wednesday, the SEC faces its first deadline to approve or reject an ETF application, specifically that of Ark 21Shares. There is speculation that the regulator might approve multiple applications simultaneously. Notably, BlackRock, Grayscale, and other potential issuers have submitted final updates to the Securities and Exchange Commission, which include significant fee disclosures. These updates have bolstered investors’ confidence in the likelihood of approval.
While some investors believe that the immediate impact of an approval may have been exaggerated, many anticipate that the event itself will open new avenues for institutional investments in Bitcoin in the long term. The anticipation surrounding the SEC’s decision has generated optimism among investors, who see potential for increased institutional inflows into the cryptocurrency.
It is important to note that this article was originally published on U.Today and has been rewritten to meet Irish journalism standards.