As August ended, popular television host and former hedge fund manager Jim Cramer discussed the month's best Wall Street performers on his show, and a major stock found a positive mention. In
As August ended, popular television host and former hedge fund manager Jim Cramer discussed the month's best Wall Street performers on his show, and a major stock found a positive mention.
In the Aug. 31 episode of CNBC's "Mad Money," Cramer addressed the wild rally posted by Coinbase Global (Nasdaq: COIN) in the month.
Related: Jim Cramer recommends buying Bitcoin
Launched by Brian Armstrong and Fred Ehrsam in 2012, Coinbase is the largest crypto trading exchange in the United States.
Coinbase went public in 2021 and was included in the S&P 500 index in May 2025. In fact, it is the first crypto company to make it to the popular benchmark.
In the episode yesterday, Cramer said that though no cryptocurrency is part of the S&P 500, Coinbase is a constituent of the index. The crypto company's stock has rallied 28% in August, thanks to the comeback staged by the crypto market, he explained.
"Finally, cryptos had a big comeback this month. Of course, crypto isn't in the S&P 500, but Coinbase is," Cramer remarked. "Coinbase was up 28%."
The crypto market began rallying during the second half of last month after the U.S. Treasury announced on Aug. 19 that it will at least double the amount of long-term bond buybacks.
The move sparked a return of market liquidity, leading to the crypto market cap surging from $2.29 trillion on Aug. 19 to nearly $2.7 trillion on Aug. 31.
The surge in the crypto market had a direct impact on the performance of the crypto-linked equities.
The COIN stock, which closed at $146.23 on Aug. 18, closed at $188.12 on Aug. 31. The stock rallied 28% in August, as Cramer highlighted.
It was trading at $178.47 at the time of writing, still 55% lower than the all-time high (ATH) of $402.16 that it hit on Oct. 10, 2025.
In the July 31 episode of "Mad Money," IBM CEO Arvind Krishna implied that quantum computers could pose a threat to cryptocurrencies in 3-4 years. The remark prompted Cramer to say that he is going to sell his Bitcoin.
But when a caller asked him if the Bitmine Immersion Technologies (NYSE: BMNR) stock, the leading Ethereum treasury company, is still a good buy, Cramer asked him to "just go buy Bitcoin."
BTC/USD, Source: DecibelBitcoin was trading at $77,538 at the time of writing, as per Decibel.
Related: Elon Musk has 9-word response to quantum computing race
