Over the past few months, several prominent figures have spoken out against digital assets and digital currencies. They are considered a risk for the future, which is not true. This led to a market collapse and caused huge losses to investors. Even Mad Money host Jim Cramer, who used to support cryptocurrencies, advised investors to sell them and avoid speculative investments. Last Tuesday, CNBC financial anchor Jim Cramer gave investors some advice on how people should invest in the current climate.
Mr. Cramer was originally a hedge fund manager who founded one of the main financial news websites, Thestreet.com. Mr. Cramer urged current investors to stay away from speculative investments in digital currencies and digital assets. He explained that the Federal Reserve is continuing its dovish stance on inflation, which is challenging your investments and the market. He also said: “The central bank will suffer until it stops this gambling and reduces the inflation rate in the country to a minimum.”
Jim Cramer tweeted last Tuesday that the Fed is urging people to sell their holdings in cryptocurrencies, NFTs, SPACs and IPOs before these investments wipe out their accounts. He supported the central bank and advised people to refrain from buying coins, IPOs and NFTs and refrain from new investments.
He believes that the central bank is serious now and avoiding investment will help you get through this thicket and then you will be better off. Jim Cramer said in July that the decline of digital currencies reflects the efforts of the Federal Reserve to reduce inflation in the country. He also said that he expects the price of Bitcoin to fall to around $12,000 in June. However, it didn’t drop that much and is currently trading around $20,000.
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