Jim Cramer – host of the financial TV show “Mad Money” on CNBC – explained that he is “not against cryptocurrency” but is against such projects that scam people.
This is another controversial statement coming from the American who has changed his view on the industry countless times over the years.
He is often mocked by the crypto community for providing inaccurate price predictions and investment guidance. For example, Cramer advised people to sell their “outrageous” positions in December last year when bitcoin was hovering around $17,000. Remember, the leading digital asset recently exceeded $30,000.
Only against fake cryptocurrency
Cramer took to Twitter to explain that he is not a critic of the digital asset industry. Instead, he is against “cryptocurrency and fake clothes” that drain money from investors and never give it back.
Understand that I am not against cryptocurrency and have done a good job with it. I am against BOGUS cryptocurrency and fashion that stole your money and won’t let you get it back
– Jim Cramer (@jimcramer) June 22, 2023
Hundreds of users on the post noted that Kramer’s latest statement is very different from what he’s posted before.
For example, it is urge last September to avoid delving into digital currencies, describing the latter as “speculative assets”.
“Look, Fed Chairman Jay Powell told us we need to stop doing stupid things with our money… What matters is we just have to get it over sound. Don’t get his name. Don’t get SPAC’d. Don’t get the coins And you get through that woods and you find yourself at a much better time when we’re oversold enough for a huge bounce,” Kramer added.
The American Launched Another bashing statement in December, claiming that people who have been exposed to cryptocurrency should sell their “outrageous” positions.
Kramer’s “instant” predictions
Aside from being a prominent TV personality, Cramer has gained popularity with his controversial predictions regarding cryptocurrency, which in many cases turn out to be wrong.
he Proposal At the beginning of 2022, the Bitcoin and Ethereum sell-off could end, signaling the start of a new bullish wave. However, the past year has been devastating for the sector and has seen the collapse of many giants, such as FTX, Three Arrows Capital (3AC), Celsius Network, and others, while Bitcoin and Ether have lost a large part of their USD valuation.
On the other hand, the cryptocurrency market started to bullish shortly after investors were told, “It’s never too late to sell” in December last year. Bitcoin is up more than 75% since that moment.
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