It seems that CNBC host Jim Cramer does not hold crypto close to his heart. Last December 6, he urged all investors to sell their crypto holdings. Later, the host asked some cryptos scams.
There is no real use for some cryptocurrencies, says Jim Cramer
CNBC recently interviewed Kevin O’Leary about his alleged ties to the bankrupt FTX exchange. Shortly after, on December 8, CNBC’s Jim Cramer Put down XRP, SOL and DOGE tokens as “huge scams“. The CNBC host believes that cryptos XRP, Solana and Dogecoin are not that they could not demonstrate their worth rather than speculation.
Cramer added:Why not just set it up as a bunch of stocks that are worth the same amount? So tired of these scams“. At the same time, the famous host pointed out that cryptos and blockchain technology (of which he is a big proponent) are two different concepts.
Cramer said:Remember that thedownside, it is not blockchain. Blockchain is great, but we continue to compare it toscam, and I don’t know how long this can continue“.
Jim Cramer also talked about the collapse of the crypto exchange FTX. According to him, “the blockchain had nothing to do with what happened “. The host added to that seems the FTX case bottomless and he can’t figure it out.
The crypto community is excited by Cramer’s comments
Many Twitter users expressed their displeasure with Jim Cramer’s comments. Among those who responded, we note John Deaton, pro XRP lawyer and founder of CryptoLaw. According to Deaton, Cramer confuses XRP with FTX fraud.
The lawyer reminded the host that several US government agencies, including DOJ and CFTC, have described XRP as crypto. He pointed out that The Ripple token is a crypto similar to bitcoin (BTC). and ether (ETH).
Similarly, Dogecoin Core developer Michi Lumin defended DOGE against Cramer’s comments. He explained that Dogecoin developers “much less than other crypto devs“.
For some in the crypto community, Jim Cramer’s negative comments on XRP, Solana, and Dogecoin represent a bullish sign. One can only hope that this is indeed the case.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and share my pen knowledge related to this ecosystem.