Mad Money host Jim Cramer said: You won’t touch crypto in a million years. He called investors who own various altcoins fools and urged the U.S. Securities and Exchange Commission (SEC) to do a “massive cleanup” in the crypto industry.
Jim Cramer’s Cryptocurrency Warnings
CNBC’s Mad His money show host Jim Cramer has issued another warning about cryptocurrencies. Cramer is a former hedge fund manager, where he co-founded Thestreet.com, his website for financial news and literacy. He said on his CNBC on Friday:
I won’t touch cryptocurrencies in a million years because I don’t trust depository banks.
I was then asked if I differentiated between centralized and decentralized platforms. “They fought regulation.
Mad Money Host Continuing:
I’m just saying you’re using a lot of superstition. I he likes to keep his money with JP Morgan and will check on Monday to see if I have a balance. feel well.
“Try withdrawing your money,” he advises cryptocurrency investors, noting that when he had money at a cryptocurrency company, “it was a fight to get your money out. A fight.” It is!” added.
I think everyone who owns these different coins, Solana, Litecoin. I didn’t go to college to be stupid. These people who own these things should not own them. They shouldn’t own them.
Jim Kramer Calls SEC for Major Crypto Sweep
Commenting on and existing securities legislation is suitable for regulating the crypto industry. He wants the SEC to “crack down” on cryptocurrency companies.
Mad Money Host added:
I think they need to do a big cleaning. They have to stop people making money.
“Money creation by cretins. I don’t think cretins should create money and then suck people in. These are worse than the worst Nasdaq stocks.
The Mad Money host, who previously invested in Bitcoin, Ethereum and non-fungible tokens (NFTs), sold all of his crypto holdings last year. Earlier this month, he advised investors to stay away from cryptocurrencies while the Institutional Board continues to tighten the economy. But he stressed that it’s never too late to let go of a “bad position.”
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