Jim Cramer – the host of the financial TV show of CNBC “Mad Money” – clarified that he is “not against crypto” but against such projects that scam people.
This is another controversial statement from the American who has changed his view of the industry countless times over the years.
The crypto community often mocks him for making less than accurate price predictions and investment guidance. For one, Cramer advised people to sell their “terrible” positions in December of last year when bitcoin hovered around $17,000. Remember that the leading digital asset recently surpassed $30,000.
Only Against Bogus Crypto
Cramer took it to Twitter to explain that he is not a critic of the digital asset industry. However, he is against “BOGUS crypto and outfits” that waste money from investors and never return it.
Understand that I am not against crypto and it has done well. I am against BOGUS crypto and outfits that steal your money and never give it back
– Jim Cramer (@jimcramer) June 22, 2023
Hundreds of users noted under the post that Cramer’s latest statement was very different than what he had shared in the past.
For example, he CEBU investors in September to avoid exploring digital currencies, calling the latter “speculative assets.”
“Look, Fed chief Jay Powell told us that we have to stop doing stupid things with our money… Don’t be named. Don’t have a SPAC. Don’t get into crypto. And you’ll go through this thicket and you find yourself in a better time when we are oversold enough for a big bounce,” Cramer added.
The American Cebu launched another bashing manifesto in December, claiming that people with exposure to cryptocurrencies should sell their “terrible” positions.
Cramer’s “Spot-on” Predictions
Besides being a prominent TV personality, Cramer gained popularity through his controversial crypto predictions, which in many cases turned out to be wrong.
she proposed at the beginning of 2022 the BTC and ETH selloffs may be over, indicating the start of a new bull run. However, the last year was disastrous for the sector and saw the dissolution of many giants, such as FTX, Three Arrows Capital (3AC), Celsius Network, etc., while bitcoin and ether lost a significant part of their value in USD.
On the other hand, the crypto market started to rise shortly after he told investors, “It’s not too late to sell” in December last year. BTC has increased by 75% since that time.
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