Jim Cramer’s Latest Change of Heart, Says He’s Not Against Crypto

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Jim Cramer – the host of CNBC’s financial TV show “Mad Money” – clarified that he is “not against crypto” but opposes such projects that rip people off.

It’s yet another controversial statement from the American who has changed his perspective on the industry countless times over the years.

He is often mocked by the crypto community for making not-so-accurate price predictions and investment advice. For one thing, Cramer advised people to sell their “awful” positions in December last year when bitcoin was hovering around $17,000. Recall that the leading digital asset recently exceeded $30,000.

Only against fake crypto

Cramer took to Twitter to explain that he is not a critic of the digital asset industry. Instead, he’s against “crypto and BOGUS outfits” that drain investors’ money and never give it back.

Understand that I’m not against crypto and I’m doing pretty well. I’m against BOGUS crypto and outfits that stole your money and won’t let you get it back

Jim Cramer (@jimcramer) June 22, 2023

Hundreds of users noted under the post that Cramer’s latest statement was very different from what he had shared before.

For example, he urged investors last September to avoid diving into digital currencies, calling them “speculative assets.”

“Listen, Fed chief Jay Powell told us we need to stop doing stupid things with our money. What matters is that we just have to come out of this unscathed. Do not be named. Don’t be SPAC. Don’t get crypto. And you’ll get through that thicket and you’ll find yourself in a much better time when we’re oversold enough for a huge rebound,” Cramer added.

The American launched another smear manifesto in December, saying those exposed to cryptocurrencies should sell their “awful” positions.

Cramer’s “point-in-time” predictions

Apart from being a prominent television personality, Cramer has gained popularity through his controversial crypto predictions, which in many cases are wrong.

He suggested in early 2022 that BTC and ETH selloffs might be over, hinting at the start of a new bull run. Nonetheless, the last year was devastating for the industry and saw the collapse of several giants, such as FTX, Three Arrows Capital (3AC), Celsius Network and others, while bitcoin and ether lost a significant portion of their valuation in USD.

On the other hand, the crypto market started rising soon after he told investors, “It’s never too late to sell” in December last year. BTC has jumped over 75% since then.

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