CNBC analyst Jim Cramer: Beware of crypto because it can take away all your life savings
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Answer CNBC analyst Jim Cramer: Beware of crypto because it can take away all your life savings
Jim Kramer, a CNBC host, told CNBC a while ago that investors should exit the cryptocurrency market, non-fungible tokens (NFTs), and special purpose acquisition companies (SPACs).
Kramer claims that these assets can evaporate investors’ life savings.
On the latest episode of his popular show “Mad Money,” Kramer admitted that he was wrong about cryptocurrencies.
Kramer says:
I think it’s time to start questioning the basics of crypto.
The popular stock picker also questioned whether CNBC should provide news about cryptocurrencies.
Read:The price of Ethereum rises to its highest level in two months and Bitcoin tests the level of 24 thousand dollars
He added:
We won’t even need to move it on the bottom of the TV screen anymore.
Read:The number of Ethereum coins deposited in Ethereum 2.0 contracts reaches a new record!
Kramer admitted he was wrong about cryptocurrencies now that they had failed to perform as a store of value.
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