Jim Kramer called on investors to stay away from cryptocurrencies and other risky assets – Bits Media

The host of the Mad Money show on CNBC and the famous investor Jim Kramer counts, that the Fed will continue to tighten the monetary policy, Therefore, risky assets, including cryptocurrencies, will remain under pressure.

Jim Kramer (Jim Cramer) called investors stay away from speculative assets, as it expects to continue reducing markets. An investor founds his opinion on a recent statement by the head of the Fed in Jackson-Houl, Where is Jerome Powell (Jerome Powell) announced the efforts of the Fed to reduce inflation. Powell noted, that these actions can “hurt” American business and residents. After that, American stock indices began to fall.

"FRS head Jerome Powell said, What you need to stop doing nonsense with our money. This was the essence of his speech on Friday. He will “cause pain” until it puts an end to gambling in the market. Of course, This can also damage good investments, But we will not see the end of this process until the global sale of speculative assets occurs ", - emphasized the host Mad Money.

Kramer noted, that his warning applies not only to cryptocurrencies, but also other risky assets, including a large part of the shares of commercial companies. Kramer also told, that an asset for hedging inflation and preservation of savings does not see in Bitcoin anymore. In his opinion, BTC is just another speculative asset.

“That's what is happening, when the Fed becomes serious. And you must go through it without losses. Do not invest in meme. Do not invest in companies, entered the market through reverse absorption transactions. Do not invest in cryptocurrencies. And you will pass this stage and find yourself in an excellent position, when the market is resold and will be ready for the rebound. ", -advised the former manager of the hedge fund.

Kramer said earlier, that the Fed does not really worry inflation, As the popularity of cryptocurrencies, and the department is trying to "destroy" them.