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

Mad Money host Jim Cramer has advised investors to sell their cryptocurrencies, emphasizing that “it is never too late to sell a bad position.” Regarding FTX, Cramer predicts that the crashed trading platform “will not be the last of these crypto exchanges to shut down.”

Jim Cramer’s Latest Crypto Advice

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

You can’t blame yourself and say, ‘hey, it’s too late to sell.’ The truth is it’s never too late to sell a bad position and that’s what you get if you own these so-called digital assets.

Host of Mad Money used for investment in bitcoin, ether and non-fungible tokens (NFT) but sold all of 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 advised investors to avoid invest in speculative assets, including cryptocurrencies, while the Federal Reserve continues to tighten the economy. He emphasized that investors should not be misled by the inflated market capitalization of some coins, while warning that some cryptocurrencies – including XRP, dogecoin, cardano and polygon — can be reduced to zero. Note that stablecoin tether (USDT) “still has a market cap of $65 billion,” Cramer said:

There’s still an entire crypto-supporting industry that’s doing its best to sustain all of this – not too different from what happened to bad stocks during the dotcom crash.

Cramer also shared his thoughts on the FTX explosion. The cryptocurrency exchange founded by Sam Bankman-Fried (SBF) filed for Chapter 11 bankruptcy on November 11, and an estimated one million customers and investors have lost billions of dollars due to the bankruptcy. its downfall. The company is currently under investigation for mishandling customer moneyamong other costs.

The Mad Money host said:

I bet FTX won’t be the last crypto exchange to shut down.

Last week, Cramer Is called Bankman-Fried a sick liar, a fraudster, and a clueless idiot. “Intention means nothing. Saying sorry means nothing. If you go together, if you don’t have a record, it’s against the law,” he insisted.

Cards in this story

Jim Cramer, jim cramer’s advice, jim cramer’s bitcoins, jim cramer cryptocurrency, jim cramer cryptocurrency, Jim Cramer FTX, Jim Cramer SBF, crazy money, crazy money bitcoins, crazy cryptocurrency, virtual money, FTX Crazy Money, Mad Money stores cryptocurrencies, Crazy Money SBF, Mad Money sells cryptocurrencies

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

Kevin Helms

An Austrian Economics student, Kevin found Bitcoin in 2011 and has been a missionary ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

Image credits: Shutterstock, Pixabay, Wiki Commons

deny the responsibility: This newspaper only gives true information. This is not a direct offer or solicitation to buy or sell, or to recommend or endorse any product, service or company. 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.


Kig News: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button