Jim Cramer’s Latest Change of Heart, Says He’s Not Against Crypto

Jim Cramer, host of CNBC’s financial TV show “Mad Money,” clarified that he is “not against crypto” but opposes projects that defraud people.

It’s another controversial statement from an American who has changed his outlook on the industry countless times over the years.

The crypto community often mocks him for not making accurate price predictions and investment guidance. For one, Cramer advised people to sell their “terrible” positions last December when bitcoin was hovering around $17,000. Recall that the leading digital asset recently exceeded $30,000.

only against fake crypto

Cramer explained on Twitter that he is not critical of the digital asset industry. Instead, he is against “fake cryptos and organizations” that extort money from investors and never give it back.

Understand that I am not against crypto and I have done quite well with it. I’m against fake crypto and organizations that stole your money and won’t let you get it back

— Jim Cramer (@jimcramer) 22 June 2023

Hundreds of users noted below the post that Cramer’s latest statement is very different from what he’s previously shared.

For example, he to plead Investors avoided investing in the digital currency last September, calling the latter a “speculative asset”.

“Look, Fed chief Jay Powell told us that we have to stop doing stupid things with our money… what matters is that we just have to keep it. Don’t take names Do not get SPAC’d. Don’t get crypto. And you’ll get out of this thicket and find yourself in a better time when we’re oversold enough to have a huge bounce,” Cramer said.

American launched In December, another critical manifesto claimed that those with an exposure to cryptocurrencies should sell their “terrible” positions.

Cramer’s “Spot-On” Forecast

In addition to being a prominent TV personality, Cramer has gained popularity through his controversial crypto predictions, which in many cases turn out to be wrong.

He suggested The BTC and ETH sell-off in early 2022 may end, signaling the beginning of a new uptrend. Nonetheless, the past year was disastrous for the sector and saw the slump of several giants such as FTX, Three Arrows Capital (3AC), Celsius Network and others, while bitcoin and ether lost a significant portion of their USD valuation.

On the other hand, in December last year, when he told investors, “It’s never too late to sell”, the crypto market started to rally. Since that moment BTC has risen by more than 75%.