Famous cryptocurrency trader AIgod brought a smile to the community after announcing that he doubled his “Inverse Cramer” portfolio in just a month by “simply” reverse trading against Jim Cramer, host of CNBC’s Mad Money.
In his latest tweet on August 22, the trader, who became famous on Twitter for anticipating the fall of the Terra Luna crash earlier this year, claimed he had just launched a long position on his Jim Cramer reverse account at following a bearish tweet from Cramer on the state of the Nasdaq.
He was a little late but passed long on Cramer account, bearish Jim on Nasdaq is a good indicator for cryptocurrencies
Trade decentralized derivatives here: https://t.co/z7XBNybcRr (if you use leverage do it responsibly) https://t.co/yr1iDSzROf pic.twitter.com/u9QdlbIFcb
– Algod (@AlgodTrading) 23 August 2022
Earlier the same day, Algod announced that Cramer’s reverse account had “officially doubled” for the first time, reaching a net worth of $ 101,440.71, up from a of departure amount of $ 51,470.56 on July 19 when he used 35 ETH as collateral.
According to his latest Tweet, AIgod’s reverse account shows a net worth of $ 97,007.62, which represents a whopping 88.47% return on his initial investment. However, Algod reiterates that none of this is “financial advice”.
Jim Cramer is a former hedge fund manager who hosts CNBC’s Mad Money. He is well known in the world of finance, but some in the cryptocurrency community believe it may be wiser to bet against his cryptocurrency and stock choices.
“Inverse Cramer” became something of a meme after a movement started on Reddit and Twitter pushing a simple idea. If Cramer says to sell a stock, he buys. If he recommends buying a stock, sell.
There is also a Inverse Cramer ETF Twitter account with 84,900+ followers, which “tracks advice on Jim Cramer’s actions so you can do the opposite.”
Some people do a 9 to 5 job, I just trade back Cramer
it’s not much but honest work
– Algod (@AlgodTrading) August 22, 2022
AIgod rose to fame in the crypto space after a million dollars wager between him and Terraform Labs CEO Do Kwon, in which AIgod said that in one year the price of Terra’s LUNA token would drop below its current price of $ 88 starting March 14, 2022.
Less than two months later, Luna dropped from its all-time high of over $ 120 to just $ 0.84.