Recently cryptocurrencies CNBC’s famous presenter Jim Cramer, who called on the SEC to take action on the issue, Bitcoin (BTC) warned about cryptocurrencies.
Investors bitcoin speculative cryptocurrencies such as NFTHe claimed that he should stay away from s and special purpose purchasing companies (SPAC) and get out.
In the last episode of Mad Money cryptocurrencies Jim Cramer, who admitted that he was wrong about the issue, said:
“I was wrong about cryptocurrencies because it doesn’t perform as a store of value, and I think it’s time we started questioning the fundamentals of crypto.
I no longer believe in the argument that Bitcoin is a store of value.
In this context, they will no longer even need to be quoted on the side of the television screen.”
Mentioning that the FED will continue its tightened monetary policy, the famous presenter pointed out that inflation will rise even more and that there is still something to be done to combat inflation.
Fed Chairman Jerome Powell Citing Friday’s Jackson Hole meeting, Cramer said Powell’s warnings should be heeded.
“Look, Fed Chairman Powell told us we need to stop doing stupid things with our money. That was the focus of Friday’s speech.
Powell said in his speech that they are making efforts to reduce inflation. But he also said inflation will hurt some good investments in the process.
In this context, too, we will not see the end of this decline until we achieve a great purification from all that is speculative.
This includes, but is not limited to, cryptocurrencies.”
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