Jim Cramer has urged investors that it is time to sell their crypto holdings, adding that it was not yet late to do so.

Popular Mad Money host on CNBC, Jim Cramer, has urged investors to sell their cryptocurrencies as there was still time to get out of the market.

‘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,’ he said.

Speculative Assets Will Be Affected by the Fed’s Tightening Policy

Mr Cramer commented during Monday’s episode of his popular Mad Money show, where he warned against holding onto speculative assets as the U.S Federal Reserve continued on its mission to tame runaway inflation by increasing interest rates.

He explained that he expects more downside in the markets due to this, alongside the ongoing anxiety following the collapse of FTX. He added that popular digital assets such as XRP, Dogecoin, Cardano and Polygon looked set to fall further and possibly drop to zero.

Crypto is Not Too Different From Bad Stocks During the Dot Com Collapse

Mr Cramer also took a jab at Tether, the most popular stablecoin, implying that it was not as stable as it was claimed to be.

‘Tether, a so-called stablecoin that’s supposed to be kinda-sorta pegged to the dollar, still has a $65 billion market cap. There’s still a whole industry of crypto boosters trying desperately to keep all of these things up in the air, not too different from what happened with bad stocks during the dot com collapse,’ he stated.

Crypto Community Reacts and Recommends Counter Trading Jim Cramer

However, the crypto-Twitter community is somewhat pleased that Jim Cramer has recommended that investors exit the crypto markets.

For a long time, the crypto and meme-stock trading community have believed that it is more profitable to countertrade Jim Cramer than act on his recommendations. There even exists an Inverse Cramer Twitter page dedicated to tracking trades that are taken.

Consequently, the crypto Twitter community sees his warning to exit crypto as a bullish signal for the industry.

（By John P. Njui）