CNBC personality Jim Cramer told investors to dump their cryptocurrency investments during a scathing segment in the wake of FTX’s catastrophic bankruptcy.
Cramer, a frequent critic of the cryptocurrency sector, likened current conditions within the cryptocurrency sector to those investors experienced when the dotcom bubble burst in 2000. The polarizing CNBC fixture said investors should cut their losses during a period of upheaval in digital currencies.
“You can’t just beat yourself up and say, ‘hey, it’s too late to sell.’ The truth is, it’s never too late to sell an awful position, and that’s what you have if you own these so-called digital assets,” Cramer said Monday on CNBC’s “Mad Money.”
Source: Abandon cryptocurrency, CNBC’s Jim Cramer tells investors