Jim Cramer on Strategy Inc: “I Think You Should Just Own Bitcoin”

Jim Cramer didn’t mince words when discussing Strategy Inc. and its deep ties to Bitcoin. His message was simple: if your goal is exposure to Bitcoin, you may be better off owning Bitcoin itself rather than buying a company that’s effectively a leveraged proxy for it.

Strategy Inc. has become famous for turning its balance sheet into a Bitcoin vault. As a result, the stock often moves more like a high-beta Bitcoin derivative than a traditional business. When Bitcoin rallies, Strategy can surge even harder. But when Bitcoin pulls back, losses in the stock are often sharper and faster. That volatility is exactly what Cramer was pointing out.

According to Cramer, investors buying Strategy aren’t really buying an operating company anymore — they’re buying Bitcoin risk plus extra layers: debt, dilution, and management decisions. That leverage can magnify gains, but it also magnifies pain, especially during periods of market stress.

His view reflects a broader shift in how Wall Street is thinking about crypto exposure. With spot Bitcoin ETFs, improved custody, and growing institutional access, owning Bitcoin directly has become simpler and more transparent than ever before.

Cramer’s takeaway is pragmatic, not anti-crypto: if you believe in Bitcoin’s long-term story, skip the middleman. Own the asset itself, understand the volatility, and avoid the added risks that come with treating a stock like a substitute for Bitcoin.