[Taklimakan Blog] CNBC Presenter Jim Kramer Divested of Most of His Bitcoins

Kramer sold the cryptocurrency due to its use in ransomware, as well as in connection with increasing pressure from China on the digital asset market

CNBC TV presenter Jim Kramer said he sold most of his bitcoins due to pressure on cryptocurrencies in China, as well as their use in ransomware. Kramer explained the persecution of bitcoin by the Chinese authorities by the fact that they view the coin as a threat to their regime, since they cannot control its circulation.

“When the PRC is pursued by something, they usually get their way. … This is not a democracy. This is a dictatorship. I think that they believe that this is a direct threat to the regime because this is a system that is beyond their control, ”the TV presenter said.