Coinbase (COIN) Surges 28% in August... Cramer Changes Tune to "Buy Bitcoin"

▲ Coinbase/AI-generated image

As the cryptocurrency market rebounds, driving up Coinbase Global (COIN) stock, Jim Cramer has named Coinbase as a strong performer on Wall Street for August.

According to TheStreet on September 1 (local time), Jim Cramer, host of CNBC's 'Mad Money,' mentioned Coinbase's August surge during his August 31 broadcast. Cramer stated, "Cryptocurrency finally had a big rebound this month," adding, "While crypto itself isn't in the S&P 500, Coinbase is. Coinbase is up 28%."

Coinbase was listed on the stock exchange in 2021 and was included in the S&P 500 in May 2025. It was the first cryptocurrency company to be listed in the S&P 500. Coinbase's stock price rose from $146.23 on August 18 to $188.12 on August 31.

The rebound in the cryptocurrency market influenced Coinbase's strength. Market liquidity recovered after the U.S. Treasury announced on August 19 that it would at least double the size of its long-term bond buybacks. The total cryptocurrency market capitalization increased from $2.29 trillion on August 19 to approximately $2.7 trillion on August 31.

Cramer's change in attitude towards Bitcoin (BTC) also drew attention. On his July 31 broadcast, he stated he would sell Bitcoin after IBM CEO Arvind Krishna mentioned that quantum computers could pose a threat to cryptocurrencies within 3-4 years. Later, in response to a viewer's question about BitMine Immersion Technologies (BMNR), he replied, "Just buy Bitcoin."

[Article Key Summary]

-Jim Cramer highlighted that Coinbase surged 28% in August, coinciding with the cryptocurrency market's rebound.

-Coinbase's stock price rose from $146.23 on August 18 to $188.12 on August 31.

-Cramer had previously expressed an intention to sell Bitcoin but later showed a changed attitude by telling viewers to "just buy Bitcoin."

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*