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Crypto Will Steal Your Life Savings, Warns Jim Cramer

Jim Cramer, a veteran CNBC commentator, advises investors to avoid investing in cryptocurrencies, non-fungible tokens, and special purpose acquisition businesses (SPACs) According to Cramer, these investments might potentially cause investors’ life savings to disappear.

Cramer acknowledged that he was mistaken about cryptocurrencies on the most recent edition of his popular show “Mad Money.” Cramer asserts that it is time to start doubting the foundations of cryptocurrency. The well-known stock picker also questioned if CNBC really needed to cover cryptocurrency.

It won’t even be necessary to display these quotes on the side of televisions anymore, he predicted. Now that cryptocurrency has failed to function as a store of value, Cramer has acknowledged that he was mistaken about it.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.