Jim Cramer urges investors to exit crypto – ‘it’s never too late to sell’

CNBC’s Jim Cramer on Monday told investors that they still have time to sell their cryptocurrency holdings.

“You can’t just beat yourself up and say, ‘hey, it’s too late to sell.’ The truth is, it’s never too late to sell an awful position, and that’s what you have if you own these so-called digital assets,” he said.

The collapse of FTX, the bankrupt cryptocurrency exchange that was worth $32 billion at its peak, has thrown the crypto space under intense scrutiny and spurred mounting losses in a market that has seen digital assets get pummeled by the Federal Reserve’s interest rate hikes.

Cramer, who has warned against staying in speculative assets while the Fed continues to tighten the economy, reiterated his argument and said that investors shouldn’t be fooled by some coins’ inflated market capitalization. 

He added that he expects more marginal names including XRP, dogecoin, Cardano and Polygon to fall much further, possibly to zero.

Tether, a so-called stablecoin that’s supposed to be kinda-sorta pegged to the dollar, still has a $65 billion market cap,” he said, adding, “There’s still a whole industry of crypto boosters trying desperately to keep all of these things up in the air — not too different from what happened with bad stocks during the dotcom collapse.”

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing at no cost to help you build long-term wealth and invest smarter.

Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market.


Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer’s world? Hit him up!
Mad Money TwitterJim Cramer TwitterFacebookInstagram

Questions, comments, suggestions for the “Mad Money” website?

Products You May Like

Articles You May Like

Ask Larry: Will Rolling My Pension Into An IRA Avoid Social Security’s WEP Reductions?
Amid food inflation, more shoppers turn to dollar stores for groceries
Democrats renew push for national paid family and medical leave program
Stocks making the biggest moves midday: GM, McDonald’s, UPS, Pulte, International Paper and more
The Fed Is Poised To Hike Interest Rates Again – Is It Enough To Keep Away A Recession?

Leave a Reply

Your email address will not be published. Required fields are marked *