Twitter-famous cryptocurrency trader AIgod Cramer had doubled his “Inverse Cramer” portfolio in only one month by “simply” inverse trading against CNBC’s Mad Money host Jim Cramer.
The trader, who gained notoriety on Twitter for predicting Terra Luna’s collapse earlier this year, stated in his most recent post on August 22 that he had just switched to a long position on his inverse Jim Cramer account in response to Cramer’s negative tweet about the Nasdaq.
The inverse Cramer account “officially doubled” for the first time that day, according to Algod, achieving a net value of $101,440.71 from a starting value of $51,470.56 on July 19 when he used 35 ETH as collateral.
The most recent tweet from AIgod indicates that his inverted account has a net value of $97,007.62, which is a staggering 88.47% return on his initial investment.
Former hedge fund manager Jim Cramer is the host of CNBC’s Mad Money. Although he is well-known in the financial sector, some in the cryptocurrency community think it could be smarter to gamble against his stock and cryptocurrency picks.
After a movement promoting a straightforward concept began on Reddit and Twitter, the “Inverse Cramer” gained some notoriety. If Cramer advises selling a stock, buy it. If he advises purchasing a stock, sell it.
The Inverse Cramer ETF Twitter account, which has more than 84,900 followers, is dedicated to “following Jim Cramer’s stock recommendations so you can do the opposite.”
Following a $1 million wager between AIgod and Terraform Labs CEO Do Kwon, in which AIgod predicted that the price of Terra’s LUNA token will drop below its current price of $88 beginning on March 14, 2022, AIgod rose to prominence in the cryptocurrency community.
A little over two months later, Luna had dropped from its record high of more than $120 to barely $0.84.
