CNBC Mad Money host Jim Cramer has changed his mind about the first cryptocurrency for the better. Cramer admitted that many of his Bitcoin predictions were wrong.

Popular TV host Jim Cramer said that anyone who likes Bitcoin should increase their investment in it. Previously, Cramer has always opposed Bitcoin, calling on investors and traders to sell their crypto assets, regardless of their value. Now a financial adviser has admitted he was wrong about the first cryptocurrency when he prematurely advised people to sell Bitcoin. Cramer claims that he has always supported those who believed in the long-term prospects of the first cryptocurrency, and advised people to buy Bitcoin if they believe in its potential.

“Look, if you like Bitcoin, buy it. I have always been of this opinion. I liked him for a while and thought he was making money, but I made a premature prediction,” Cramer said.

Cramer’s change in position towards investing in Bitcoin has drawn criticism from the cryptocurrency and financial community. Many investors believe that going against Cramer’s advice is the smartest financial strategy. Jim Cramer’s Inverse ETF was even launched to do this to provide results that were the opposite of the returns of the assets he recommended.

At the beginning of the year, Cramer predicted that 2023 would be a weak year for the cryptocurrency industry. However, the Bitcoin rate has risen significantly, exceeding $38,000 a few days ago for the first time in 18 months. Over the past month, the former cryptocurrency has seen a steady 10% rise and is now trading above $37,000. This positive momentum is largely due to the optimism of crypto players hoping that the US Securities and Exchange Commission (SEC) will soon approve Bitcoin spot ETFs. This will allow traditional financial institutions to gain access to Bitcoin without the need to directly own the cryptocurrency.