MARA - Jim Cramer Says Just Go Buy Ethereum Or Bitcoin Instead Of Marathon Digital: 'Let's Not Fool Around' | Benzinga
In a recent episode of “Mad Money,” host Jim Cramer advised against investing in Marathon Digital Holdings Inc. (NASDAQ:MARA) and instead recommended Bitcoin (CRYPTO: BTC) or Ethereum (CRYPTO: ETH).
What Happened: Cramer, in his “Lightning Round” segment, discouraged viewers from purchasing Marathon Digital, a company involved in Bitcoin mining, reported CNBC. He suggested that investors consider Bitcoin or Ethereum as alternatives.
"If you want to own Marathon Digital, just go buy either Ethereum or buy Bitcoin, ok. Let's not fool around," Cramer said.
Marathon Digital’s stock has experienced a tumultuous period, with its value dropping by over 20% in the past month. This decline is attributed to the overall volatility in the cryptocurrency market.
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Why It Matters: Cramer’s advice aligns with the current state of the crypto market. On Tuesday, cryptocurrency analyst Ali Martinez highlighted the importance of Bitcoin’s $62,000 support level. Failure to maintain this level could shift focus to the next significant demand area, approximately $51,500. Conversely, a climb back ...