Earlier today, CNBC host Jim Cramer cryptocurrency opposing the units, describing them as “money made by idiots” and Litecoin with Solana altcoin insulted the owners, claiming they were “stupid”.
Jim Cramer Insults Owners Of Two Altcoins In His TV Show
Cramer said the following on the TV show he participated in:
“Solan, Litecoin, I think anyone who owns these various coins… yes I will say, I think they are stupid. I didn’t go to college to be stupid. People who own these should stop owning them.”
Cramer also said that he would never invest in crypto due to the lack of regulation and his concerns about trusting an escrow bank. However, Cramer had previously been a bitcoin and Ethereum He said he was an investor and later sold his assets.
“I would not touch crypto in a million years, because I wouldn’t trust the deposit bank,” Jim Cramer says while discussing the fallout of the collapse of FTX. https://t.co/0VbM5tYThE pic.twitter.com/9kqVMvbSOw
— CNBC (@CNBC) December 23, 2022
Cramer described a personal incident he had while trying to get his money back from a crypto firm and described the process as frustrating.
Meanwhile, Cramer is urging the U.S. Securities and Exchange Commission (SEC) to take control of the cryptocurrency industry to end the “dumb money making” that is currently happening unchecked in this industry:
“I think they need to do a big clean up. They have to stop people making money. This is money creation by idiots. These are worse than even the worst Nasdaq stocks.”
The CNBC presenter recently stated that he prefers traditional banks such as JPMorgan Chase Bank. “I love having my money at JPMorgan and on Monday I check my balance is there. It feels good,” he said.
*Not investment advice.
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