Cramer Urges Coinbase Sell-Off as Bitcoin Nears $98,000, Favors Goldman Sachs
Jim Cramer expressed a bearish stance on Coinbase, calling it “deeply linked” to Bitcoin and advising investors to “scale out” as Bitcoin approaches $97,000-$98,000. He recommended moving into Goldman Sachs shares instead, citing better upside potential.
1. Cramer’s Bearish Stance
Jim Cramer declared that he “doesn’t want to touch” Coinbase shares, describing the stock as overly dependent on cryptocurrency movements and warning that there are stronger opportunities elsewhere.
2. Bitcoin Price Linkage
Cramer emphasized that Coinbase performance tracks Bitcoin’s value closely, forecasting a rally to $97,000-$98,000 and urging investors to scale out of their positions after a recent 6% gain.
3. Alternative Recommendation
He advised reallocating capital into Goldman Sachs shares, noting that his personal trust holds the bank’s stock and highlighting its more stable outlook compared with crypto-linked equities.