What would you do if the person who gave advice on financial matters doubled their investments in just one month? Of course, many people would be excited and want to know how they did it.
This crypto trader known as AIgod is bringing joy to the community after doubling his “Inverse Cramer '' portfolio in just one month by simply inverting against CNBC's Mad Money host Jim Cramer.
In his most recent tweet on Monday, the trader who became famous for pre-empting falls earlier this year said he has just flipped to an extended position following an especially bearish message from Jim Cramer about Nasdaq stocks.
The day before, Algod announced that his inverse Cramer account had “officially doubled” for the first time. He reached a net value of $101440.71 up from the start amounting to just under 52K USD on July 19 when he used 35 Ether (ETH) as collateral.
AIGod’s latest Tweets show that he has regained 88% on his initial investment. His account, however, does not offer financial advice and should be treated as a curiosity rather than anything else.
CNBC's Mad Money is hosted by Jim Cramer, a former hedge fund manager. He is well-known in the financial world, but some in the crypto community assume it is better to bet against his cryptocurrency and stock picks.
"Inverse Cramer" is a popular meme that started on Reddit and Twitter. The basic idea behind this funny term? If you hear Jim Cram say to sell, then do just the opposite--you should buy!
With over 84,900 followers, the Inverse Cramer ETF Twitter account is "tracking Jim Cramer's stock recommendations so you can do the opposite."
AIgod rose to prominence in the cryptocurrency community following a $1 million wager between him and Terraform Labs CEO Do Kwon, in which AIgod asserted that the price of Luna Classic (LUNC) would collapse below $88 in one year beginning March 14, 2022.
LUNC fell from an all-time high of more than $120 to $0.84 in less than two months.
It is interesting to note the success rate from one man's perspective. Still, many others have lost money investing in cryptocurrency--especially when compared with traditional markets like stocks or bonds, where you can get some guaranteed return each month regardless of what happens.