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Author Topic: Jim Cramer - 'peso-bitcoin trade'  (Read 2891 times)
julz
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June 23, 2012, 01:01:11 AM
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Jim Cramer of 'mad money' fame (and now famous in Bitcoin circles for his cameo on 'The Good Wife' - 'Finding Mr Bitcoin' episode),
recently tweeted:

https://twitter.com/jimcramer/status/216253913496694786

Quote
I am not that focused on the china-brazil swap, more involved in the peso-bitcoin trade.

which was in response to:
Quote
Mark Pullman ‏@markcamchord
@jimcramer jc: is the China-Brazil currency swap on your radar screen?

Anyone got any insight into what he's talking about? I'm guessing it's basically a joke.. sort of to say he's not really paying attention to either?

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adamstgBit
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June 23, 2012, 01:12:46 AM
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i think he got himself some bitcoin

once you get yourself some bitcoin.... you get yourself some more bitcoin!   Cheesy

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June 23, 2012, 01:15:14 AM
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Mtgox has a market in pesos don't they? Maybe he is doing some 3-way arbitrage with bitcoins, USD, and Pesos. Cheesy

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julz
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June 23, 2012, 01:15:37 AM
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i think he got himself some bitcoin

once you get yourself some bitcoin.... you get yourself some more bitcoin!   Cheesy

lol.. Unfortunately I get from this that his position on Bitcoin is that it's currently an irrelevancy... but hey.. at least he's acknowledging that it's being traded.

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June 23, 2012, 01:32:30 AM
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Lol, it seems to me that he's kidding, but I'm not sure.

Damn, half a million followers. Nice mention.

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June 23, 2012, 02:11:54 AM
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Lol, it seems to me that he's kidding, but I'm not sure.

Heh, ya, he was kidding -- trying to downplay the news of the china/brazil central bank liquidity swap. Details here:

 - http://www.marketwatch.com/story/china-brazil-in-30-billion-currency-swap-deal-2012-06-22-6103239

He's got a point.  This single event from two of the largest economies in the world barely got any press, likely because the combined GDP of these two countries is more than 250 times the size of this agreement.  But the agreement is a significant development though.

But even so, the size of this agreement is also 500 times the size of the current value of all bitcoins combined.  i.e., Cramer couldn't have picked any other two currencies with less relevance to help him make his point.

Cramer is past the "first they ignore you", but still stuck in the "then they laugh at you".

But you gotta wonder who bought all the bitcoins in January to cause it to spike from $4 and change to $7.  It wouldn't be a surprise to me if he a picked up a few himself.  YTD, bitcoin is beating the snot out of all his other of his investments ( http://www.gainerstoday.com/Jim-Cramer-Charitable-Trust-Stocks-Stock-Market-Picks ... well, except for the $AAPL).

 - http://www.gainerstoday.com/Jim-Cramer-Charitable-Trust-Stocks-Stock-Market-Picks

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