Jim Cramer claims Michael Saylor “murdered Bitcoin” after Strategy’s first BTC sale since 2022 and mounting unrealized losses.
Author: Akshat Thakur
4th June 2026 – Jim Cramer said on CNBC that “Saylor murdered Bitcoin,” repeating the line several times after Strategy sold Bitcoin for the first time since 2022.
High Signal Summary For A Quick Glance
Denys Zayets
@denyszayets
@jimcramer It's not a loss until it's realized. Bitcoin fundamentals and trajectory have not changed since it went live. Relax.
Who murdered Bitcoin? https://t.co/X75J0JeSeX
04:47 PM·Jun 4, 2026
HighTide
@Hightide_ch
@jimcramer nobody did, it does this every cycle and then the obituaries get quietly deleted. a 20 percent drawdown is a tuesday for this asset, not a crime scene. the people asking who killed it are usually the ones who showed up last
Who murdered Bitcoin? https://t.co/X75J0JeSeX
04:22 PM·Jun 4, 2026
.
@Sody1
@jimcramer Here the answer is And once Jim a bearish for $BTC This is a good sign to go all in https://t.co/vSEgbdWzuL
LAST TIME WHEN MICHAEL SAYLOR SOLD, BITCOIN WENT UP BY 600% https://t.co/glVH7XvMJW
04:06 PM·Jun 4, 2026
High attention and emotional sentiment detected.
The remarks aired on the morning show Squawk on the Street, broadcast live from the New York Stock Exchange floor. Cramer delivered them in his usual solo-commentary style. Within hours, the clip spread across X.
Cramer did not soften the message. “Saylor killed Bitcoin,” he said on air. Then he went further with a pop-culture comparison.
“You know how Scott Pelley said 60 Minutes was murdered by the new team? Saylor murdered Bitcoin. He just murdered it,” Cramer said, according to clips circulating from the segment.
He had teased the reversal days earlier. After Strategy’s sale on June 1, Cramer posted that he might reevaluate his pro-Bitcoin stance. By June 4, that doubt had turned into a blunt on-air verdict.
No co-host or guest is named as directly rebutting him in real-time reports. CNBC has not yet posted a full video or transcript, so the verbatim quote comes from short clips and screenshots.
The trigger was small. Strategy, the company formerly known as MicroStrategy, sold 32 BTC between May 26 and May 31. That marked its first Bitcoin sale since 2022.
According to the company’s SEC 8-K filing, the sale brought in $2.5 million at an average price of $77,135. Strategy said it used the proceeds for preferred-stock distributions.
The amount itself is tiny. It represents roughly 0.004% of the company’s stack. Even so, it broke a long-standing “never sell” stance that Michael Saylor had championed for years.
That symbolism is why Cramer seized on it. For him, the sale signaled that the strategy of buying and holding forever had cracked. Strategy and Saylor had not issued a response as of June 4 afternoon.
The backdrop made the sale sting more. Strategy holds 843,706 BTC as of May 31, according to its official dashboard. The aggregate cost sits near $63.87 billion.
That works out to an average cost basis of $75,699 per coin. With Bitcoin trading near $63,481 on June 4, the firm faced a record unrealized loss of about $10.8 billion.
Cramer framed Saylor’s buying as a “trampoline” that once propped up the market. Now, in his telling, that same machine adds selling pressure instead of support. He called it a reversal of the engine that drove the rally.
The stock told a more mixed story. MSTR traded near $127.34 on June 4, up about 0.63% intraday. Still, the shares sit down roughly 77% from their record high, on volume above 13 million.
Timeline of Jim Cramer’s Bitcoin and Strategy Calls Leading to “Saylor Killed Bitcoin”
Jim Cramer advises investors to own Bitcoin directly rather than using MicroStrategy as a leveraged proxy. While remaining generally bullish on BTC, he criticizes the corporate-treasury approach. Bitcoin was trading in the high $80,000–$90,000 range and later continued climbing toward cycle highs above $126,000.
On CNBC, Cramer calls Michael Saylor a “Houdini” and a “messiah of Bitcoin”, adding that he has never made money betting against him. Despite the praise, he still says he prefers direct Bitcoin ownership over Strategy shares. Bitcoin was trading near cycle highs before entering a broader corrective phase.
Following a sharp intraday decline of roughly $4,000, Cramer describes Bitcoin’s start to December as “horrible.” He later suggests that if Saylor acts opposite to market expectations, it could trigger the “squeeze of a lifetime.” Bitcoin stabilizes and recovers from the immediate selloff.
As Bitcoin falls toward the $74,000 area, Cramer publicly questions where the buyers are and repeatedly references Strategy’s available capital. Bitcoin eventually bottoms in the $60,000–$65,000 range before staging a significant rebound.
Cramer identifies the $73,800–$73,820 zone as a key support level and urges Strategy to utilize financial tools such as convertible debt offerings to defend Bitcoin’s price. BTC later stabilizes and trades higher through the following months.
Following Strategy’s disclosure that it sold 32 BTC for approximately $2.5 million, Cramer says he may need to reconsider his pro-Bitcoin stance. He argues that Strategy had become the market’s primary “trampoline” supporting prices. Bitcoin was trading near $69,000 at the time, and the comments immediately trigger fresh “Inverse Cramer” memes across crypto communities.
Cramer escalates his criticism dramatically, repeatedly stating that “Saylor murdered Bitcoin” and “Saylor killed Bitcoin.” He cites Strategy’s first sale since 2022, roughly $10.8 billion in unrealized losses, and the perceived end of Strategy’s market-support effect. Bitcoin trades around $63,500 during the segment.
Crypto traders immediately revive the long-running “Inverse Cramer” thesis, arguing that some of Bitcoin’s strongest rebounds historically followed periods of peak pessimism from the CNBC host. His latest comments are widely interpreted as another potential contrarian signal as markets assess whether Bitcoin is approaching a cyclical bottom.
Crypto traders reacted with mockery, not fear. Many invoked the “inverse Cramer” meme, the idea that betting against his calls often pays off. As a result, they read the outburst as a possible bottom signal.
Bitcoin historian Pete Rizzo posted screenshots captioned “INVERSE CRAMER HAS SPOKEN.” Meanwhile, accounts like BitcoinNewsCom shared the full Scott Pelley analogy. The mood across Reddit’s r/BitcoinMarkets and r/CryptoCurrency leaned bullish and meme-driven.
Supporters also pushed back on the substance. They noted the sale equals a sliver of the holdings. Strategy still controls about 4% of all Bitcoin supply, and Saylor still frames the asset as long-term digital capital.
None of this proves Cramer wrong or right. The inverse Cramer pattern is a trader narrative, not a guarantee. Past reversals do not promise another one.
The “Saylor murdered Bitcoin” framing is rhetoric, not data. The underlying mechanics are more technical, and they matter here.
A Bitcoin treasury company buys and holds BTC as its main reserve asset. To fund those buys, it issues convertible notes and sells new shares through at-the-market offerings. That setup turns the stock into a leveraged proxy for Bitcoin.
The market then prices the equity above or below its holdings. Analysts track this gap as the mNAV premium, which stood near 1.24x on June 4. Critics argue the model can dilute shareholders and create selling pressure if the premium collapses.
So the 32 BTC sale touched a nerve for a reason. It hinted that the firm might sell to cover obligations like preferred dividends. That is the fear behind Cramer’s framing, even if one small sale does not confirm it.
The next signal will come from Strategy itself. Watch whether the company sells more Bitcoin, or whether the 32 BTC sale stays a one-off tied to dividends. Its next filing should clarify the pattern.
A direct response from Saylor would also shift the story. So far, he has stayed quiet while the meme war plays out. Bitcoin’s price action near $63K will likely decide who looks right.
For now, the clash sits where Cramer left it. One TV host says Saylor murdered Bitcoin. A wall of traders is betting he just called the bottom.
This article is analysis and reporting, not financial advice. Always do your own research before making any investment decision.
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