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Cramer takes another swipe at cryptocurrencies.
Popular American TV personality and CNBC’s Mad Money host Jim Cramer has taken a swipe at digital currencies, including fungible and non-fungible tokens. The pundit, hosted on a CNBC Squawk Box episode today, said that fungible and non-fungible tokens are “House of Cards,” a phrase used to describe an insecure situation or scheme.
Cramer noted that he has no idea what to do with a fungible token or a non-fungible token. The prominent American television personality further said he does not think people should invest in either fungible or non-fungible tokens. He gave investment advice, calling on people to sell their nascent asset class.
“I don’t think anyone should be in any of these. I think everything should be sold,” he added.
"This whole thing is just a house of cards. Does anyone really own NFTs? I don't even know what to do with a fungible token. What do you do with a non-fungible token?" says @jimcramer on #crypto. "I don't think anyone should be in any of these. I think everything should be sold." pic.twitter.com/uWs61CxS7z
— Squawk Box (@SquawkCNBC) January 10, 2023
Cramer’s Resentment Towards Cryptocurrencies
Cramer’s comment further shows his resentment towards cryptocurrencies. On January 3, 2023, Cramer revealed his crypto outlook for the year. According to Cramer, 2023 will be yet another bearish year for cryptocurrency enthusiasts, as he expects the prices of cryptocurrencies to plunge further.
“As I predict another weak year for crypto, I ponder how many people are still involved, now many millions of people….,” Cramer tweeted.
Last year, the Mad Money host described XRP, Solana, and Dogecoin as great cons. Cramer said he is tired of these cons, which seem bottomless.
“We put up XRP, Solana, and Dogecoin; those are all, I believe, cons. Why don’t we put up a bunch of stocks valued at the same size? I’m tired of the con,” he said.
Crypto Enthusiasts Don’t Take Cramer Seriously
Cramer is known for consistently taking advantage of adverse events in the crypto space to swipe at the nascent asset class. The Mad Money host has become more outspoken regarding his resentment toward digital currencies following the collapse of the cryptocurrency exchange FTX.
Meanwhile, many crypto community members do not take Cramer’s crypto investment advice seriously because the outcome of his calls usually ends in favor of the opposite.
A case in point was when Cramer predicted a bullish run for Ethereum last year. However, the asset class plunged over 50% following Cramer’s predictions.