Jim Cramer Clarifies Stance on Crypto: Only Opposes Scam Ventures
- The American anchor has changed his mind several times over the years.
- Cramer used Twitter to clarify that he does not see the digital asset market negatively.
“Mad Money” anchor and crypto critic Jim Cramer from CNBC has made it clear that he is “not against crypto,” but is against fraudulent ventures using cryptocurrency. The American, who has changed his mind several times over the years, has made another contentious declaration.
The cryptocurrency industry often makes fun of him for giving poor investment advice and inaccurate price forecasts. When bitcoin was trading at $17,000 in December of last year, Cramer urged investors to liquidate their “awful” holdings. Keep in mind that the most valuable cryptocurrency just reached the $30,000 mark.
Opposite Forecast
Cramer used Twitter to clarify that he does not see the digital asset market negatively. The “BOGUS crypto and outfits” he opposes are those who take money from investors and don’t pay it back. Several hundred people commented on the post, pointing out the significant departure from previous statements by Cramer.
He warned investors in September 2022 against becoming involved with virtual currencies, which he termed “speculative assets.” The anchor released another anti-cryptocurrency declaration in December, urging investors to unload their “awful” cryptocurrency holdings.
At the start of 2022, he hinted that the bear market for Bitcoin and Ethereum would be coming to an end, setting the stage for a fresh bull run. However, 2022 was a terrible year for the industry as many titans, like FTX and others, collapsed and the price of BTC and ETH plummeted.
However, when he advised investors “It’s never too late to sell” in December of last year, the cryptocurrency market began to rise. Bitcoin has seen a price increase of almost 75% since then.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
