The show host Food Monetand south CNBC, Jim Cramer, once once more went following cryptocurrency investors. He claimed he would never touch it (not “in a million years”).
In an interview, Cramer spoke out once morest some cryptocurrency market players like Solana et Litecoincalling them “idiots”.
He stated :
“I wouldn’t touch crypto in a million years because I wouldn’t trust the depository bank.”
The famed Wall Street pundit, discussing the fallout from the collapse of FTXeven expressed concerns regarding decentralized exchanges, saying thathe would not trust these platforms as they are unregulated.
“They fought the regulations. They didn’t want regulation so there’s no regulation“Cramer said, suggesting he doesn’t trust platforms that don’t want regulation.
He added :
“I’m just saying blind faith, I like having my money at JPMorgan, and I like to look on Mondays if my balance is there. It feels good.”
“Try to withdraw your money,” Cramer said, claiming thathe has not had a good experience withdrawing his money from a crypto company. “It was a fight to withdraw my money, a real fight!”.
Cramer’s comments come as the vast majority of digital assets have lost around 70% of their value from their all-time highs year-to-date, amid the recent market decline.
Bitcoin has been hovering around the $17,000 mark since the start of November, representing a decline of almost 75% from its ATH of $68,789.63 recorded in November 2021. Likewise, theEthereum is down regarding 75% compared to its ATH of $4,891.
Cramer said:
“I think everyone who owns these cryptos – you know, Solana, Litecoin – I really think you’re an idiot, ok. I didn’t go to college to get stupid. These people who own these things shouldn’t have them.”
The famous investor called Gary Genslerthe president of the Securities and Exchange Commission (SEC) of the United States, to “intervene and enforce the law” once morest crypto companies, saying that securities laws are adequate for the regulation of the crypto industry.
“I think they need to clean up. They need to arrest people who are creating money. We are seeing money being created by morons. I don’t think morons should be creating money and then train other people. It’s worse than the worst Nasdaq stocks.”
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