Claim Giveaway Token Proof of Reserve

Jim Cramer’s Love-Hate Relationship with Cryptocurrencies

  • The Mad Money host Jim Cramer again criticized cryptocurrencies.

  • Jim Cramer's remarks are similar to those of Michael Saylor and Jamie Dimon.

  • Jim Cramer says that ‘XRP, Solana, and Dogecoin are all cons.'

09-Dec-2022 By: Sudeep Saxena
Jim Cramer’s Love-Ha

The Mad Money host and former hedge fund manager Jim Cramer 

Made identical claims against three altcoins shortly after Michael Saylor stated that he was targeting Ripple and Ethereum.

Cramer made some harsh statements about XRP at a time when investors were expecting a price increase from the Ripple-SEC lawsuit judgment. The former stockbroker expressed his displeasure with the crypto industry, notably XRP. 

Cramer's remarks were aimed at investors anticipating an XRP rise following the lawsuit. Aside from XRP, Cramer's statements targeted two more altcoins:

“The whole thing appears to have no bottom... It's just a giant con, ... Solana, XRP, Dogecoin are all cons.”

As CoinGabbar earlier reported, the Mad Money host warned crypto investors to sell their crypto holding as soon as possible citing the global market downturn. Cramer also criticized these three coins previously as well.

At that time, Cramer noted that Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), and Polygon (MATIC) might fall to zero. Cramer’s yesterday claims imply that cheap tech stocks are better than crypto assets.

Stocks Better Than Crypto: Jim Cramer

Cramer questioned why low-cost stocks do not receive the same attention as cryptocurrency. He said tech stocks like Rent the Runway (RENT) and Stitch Fix (SFIX) are significantly preferable to crypto assets.

Cramer's assertion clearly indicates that XRP, Dogecoin, and Solana were the market's negative features. In his opinion, these sorts of altcoins are degrading the values of other cryptocurrencies as well. 

Experts believe that Cramer appears to have embraced a common perspective on cryptocurrency assets, namely that only blockchain technology has value, not crypto itself. 

In addition, Cramer's views are quite similar to those of JPMorgan CEO Jamie Dimon, who recently praised blockchain while comparing cryptocurrency to "pet rocks."

These back-to-back unfavorable comments toward cryptocurrency by experts clearly imply that the fallout of the crypto exchange FTX has severely impacted the broader crypto market.

What lies ahead

As previously reported by CoinGabbar, the urgent need of the hour is strict crypto regulation which will better regulate the crypto industry. The regulations will undoubtedly alter experts' and individuals' attitudes regarding cryptocurrency in the future.

Meanwhile, Cramer's comments don't affect the prices of these three altcoins. These altcoins have gained approximately 2% in the previous 24 hours, reflecting a bullish trend.

Read also: Shanghai Upgrade | Next Key Milestone on Ethereum Roadmap

Related News
Related Blogs