Jim Kramer: "I would not invest in cryptocurrencies even after a million years" – Bits Media

The host of the CNBC channel Jim Kramer once again spoke out against cryptocurrencies. He called the owners of altcoins idiots and said, that I would never invest in digital assets.

During the discussion of the FTX exchange collapse on the CNBC channel Jim Kramer (Jim Cramer) He called digital currencies "New money for morons". He stressed, that now I would never invest in cryptocurrencies, since the industry is too poorly regulated and it does not believe in them. Kramer reminded, that once invested in one of the companies in the cryptocurrency industry and hardly returned the means.

"I think, What is anyone, Owning different coins like Litecoin, It's just an idiot. I did not go to college for that, to become an idiot. And to these owners of altcoins, I would advise them to sell them ", - said Jim Kramer.

The investor also called on the US Securities and Exchange Commission (SEC) increase pressure on the cryptocurrency market and remove this “money for cretins” from the financial industry. Kramer emphasized, that regulators need to destroy the fundamental possibility of "creating money", Since cryptocurrencies are "worse than any bad action on NASDAQ".

In conclusion, Jim Kramer advised to keep his money in large traditional banks, Wrode jpMorgan Chase.

Recall, that two years ago Kramer could be called an enthusiast bitcoin. He advised to diversify the investment portfolio with cryptocurrencies and spoke, that bitcoin can perform the function of money. but, He sold his BTC reserves by the middle 2021 of the year.