Jim Cramer Urges Investors to Get Out of Crypto – ‘It’s Never Too Late to Sell’

CNBC’s Jim Cramer told investors on Monday that they still have time to sell their cryptocurrency.

“You can’t beat yourself up and say, ‘Hey, it’s too late to sell.’ The truth is, it’s never too late to sell a bad position, and that’s what you have if you own these so-called digital assets.”

Collapse FTXA bankrupt cryptocurrency exchange valued at $32 billion at its peak has thrown the cryptocurrency space under intense scrutiny and caused mounting losses in a market that has seen digital assets take a beating due to higher interest rates at the Federal Reserve.

Kramer, who cautioned against staying in speculative assets while the Fed continues to tighten the economy, reiterated his argument and said investors should not be fooled by the inflated market capitalization of some coins.

He added that he expects more fringe names including XRPAnd the DogecoinAnd the Cardano And the ribbed To drop much more than that, perhaps to zero.

“Ropethe so-called stablecoin that is supposed to be kind of pegged to the dollar, still has a market capitalization of $65 billion,” he said, “There is still a whole industry of cryptocurrency boosters trying very hard to keep all this stuff up in the air — not so different from what happened with bad stocks during the dotcom crash.”