• Home
  • Live Crypto Price
  • Contact
No Result
View All Result
  • Home
  • Live Crypto Price
  • Contact
No Result
View All Result
No Result
View All Result
Home Cryptocurrency

Mad Money’s Jim Cramer Advises Investors to Get out of Crypto — Says ‘It’s Never Too Late to Sell’ – Markets and Prices Bitcoin News

Kevin Helms by Kevin Helms
December 8, 2022
in Cryptocurrency
0 0
0
Mad Money’s Jim Cramer Advises Investors to Get out of Crypto — Says ‘It’s Never Too Late to Sell’ – Markets and Prices Bitcoin News
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


The host of Mad Money, Jim Cramer, has advised investors to sell their crypto, emphasizing that “it’s never too late to sell an awful position.” Regarding FTX, Cramer predicted that the collapsed trading platform “won’t be the last of these crypto exchanges to go down.”

Jim Cramer’s Latest Crypto Advice

The host of CNBC’s Mad Money show, Jim Cramer, has advised investors to sell their cryptocurrencies following the collapse of crypto exchange FTX. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. He said Monday:

You can’t just beat yourself up and say, ‘hey, it’s too late to sell.’ The truth is, it’s never too late to sell an awful position, and that’s what you have if you own these so-called digital assets.

The Mad Money host used to invest in bitcoin, ether, and non-fungible tokens (NFTs) but sold all his crypto holdings last year. “I told you I sold my bitcoin and ethereum a long time ago … and used the proceeds to buy a very nice farm,” he shared.

He has been advising investors to avoid investing in speculative assets, including crypto, while the Federal Reserve continues to tighten the economy. He stressed that investors should not be fooled by some coins’ inflated market capitalization, warning that some cryptocurrencies — including XRP, dogecoin, cardano, and polygon — could fall to zero. Noting that stablecoin tether (USDT) “still has a $65 billion market cap,” Cramer opined:

There’s still a whole industry of crypto boosters trying desperately to keep all of these things up in the air — not too different from what happened with bad stocks during the dotcom collapse.

Cramer also shared his thoughts on the FTX implosion. The crypto exchange founded by Sam Bankman-Fried (SBF) filed for Chapter 11 bankruptcy on Nov. 11, and an estimated one million customers and investors lost billions of dollars from its collapse. The company is now being investigated for mishandling customer funds, among other charges.

The Mad Money host opined:

I am betting FTX won’t be the last of these crypto exchanges to go down.

Last week, Cramer called Bankman-Fried a pathological liar, a conman, and a clueless idiot. “Intent means nothing. Saying sorry means nothing. If you commingle, if you had no record keeping, those are against the law,” he stressed.

Tags in this story
Jim Cramer, jim cramer advice, jim cramer bitcoin, jim cramer crypto, jim cramer cryptocurrency, Jim Cramer FTX, Jim Cramer SBF, mad money, mad money bitcoin, mad money crypto, mad money cryptocurrency, Mad Money FTX, Mad Money host crypto, Mad Money SBF, Mad Money sell crypto

Do you think investors should follow Mad Money host Jim Cramer’s advice about selling crypto? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It





Source link

Previous Post

Lessons From Adoption Bitcoin, El Salvador – Bitcoin Magazine

Next Post

Understanding Bitcoin Hash Rate Increases – Bitcoin Magazine

Kevin Helms

Kevin Helms

Next Post
Understanding Bitcoin Hash Rate Increases – Bitcoin Magazine

Understanding Bitcoin Hash Rate Increases - Bitcoin Magazine

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Pantera Capital CEO: Bitcoin (BTC) Could Hit $115k after Halving

Pantera Capital CEO: Bitcoin (BTC) Could Hit $115k after Halving

May 5, 2022
BOLT12, LNURL And Bitcoin Lightning

BOLT12, LNURL And Bitcoin Lightning

June 20, 2022
Jack Dorsey Muses on Social Media ‘Takeover,’ Ethereum Weaknesses; Plus the Latest in Crypto Mining — Bitcoin.com News Week in Review – The Weekly Bitcoin News

Jack Dorsey Muses on Social Media ‘Takeover,’ Ethereum Weaknesses; Plus the Latest in Crypto Mining — Bitcoin.com News Week in Review – The Weekly Bitcoin News

April 24, 2022
Luna Foundation Acquires An Additional 37.8k Bitcoin Worth $1.5B, Bringing its Total Holdings to 80,394 BTC

Luna Foundation Acquires An Additional 37.8k Bitcoin Worth $1.5B, Bringing its Total Holdings to 80,394 BTC

May 6, 2022
Bitcoin Is Our Weapon In The War Of Ideas

Bitcoin Is Our Weapon In The War Of Ideas

0
Allianz Chief Economic Advisor Predicts Bitcoin Going Higher Amid Inflation

Allianz Chief Economic Advisor Predicts Bitcoin Going Higher Amid Inflation

0
Insurance Considerations For Bitcoin Miners

Insurance Considerations For Bitcoin Miners

0
Becoming A Sovereign Individual With Bitcoin

Becoming A Sovereign Individual With Bitcoin

0
Russia’s Largest Private Bank Launches Digital Asset Platform – Finance Bitcoin News

Russia’s Largest Private Bank Launches Digital Asset Platform – Finance Bitcoin News

February 5, 2023
Reduced To Penny Stocks In 2022, Public Bitcoin Miners Are Primed To Come Back

Reduced To Penny Stocks In 2022, Public Bitcoin Miners Are Primed To Come Back

February 4, 2023
Sberbank Set to Launch Decentralized Finance Platform Based on Ethereum – Defi Bitcoin News

Sberbank Set to Launch Decentralized Finance Platform Based on Ethereum – Defi Bitcoin News

February 3, 2023
CleanSpark Mines Record 697 Bitcoin In January, A 50% Increase Since December

CleanSpark Mines Record 697 Bitcoin In January, A 50% Increase Since December

February 2, 2023

Recommended

Russia’s Largest Private Bank Launches Digital Asset Platform – Finance Bitcoin News

Russia’s Largest Private Bank Launches Digital Asset Platform – Finance Bitcoin News

February 5, 2023
Reduced To Penny Stocks In 2022, Public Bitcoin Miners Are Primed To Come Back

Reduced To Penny Stocks In 2022, Public Bitcoin Miners Are Primed To Come Back

February 4, 2023
Sberbank Set to Launch Decentralized Finance Platform Based on Ethereum – Defi Bitcoin News

Sberbank Set to Launch Decentralized Finance Platform Based on Ethereum – Defi Bitcoin News

February 3, 2023
CleanSpark Mines Record 697 Bitcoin In January, A 50% Increase Since December

CleanSpark Mines Record 697 Bitcoin In January, A 50% Increase Since December

February 2, 2023

About Us

We bring you the latest bitcoin news from all over the internet

Categories

  • Cryptocurrency
  • Latest
No Result
View All Result
  • Home
  • Live Crypto Price
  • Contact

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In