Jim Cramer yet again reverses course and suggests investors not to add crypto to their portfolios

American Television personality Jim Cramer has reversed course once more on his position on cryptocurrencies. He referred to bitcoin and other crypto tokens as speculative assets and advised people against making investments in them.

Cramer has portrayed a fairly controversial picture of the crypto industry over the past few years. He insisted on getting paid in bitcoin in 2021. But after the sharp price decline, he gave up on those ideas and sold almost all of his Bitcoin holdings.

Jim Cramer, the host of CNBC’s “Mad Money,” had yet another change of heart and advised investors against diversifying their portfolios with crypto. While talking to CNBC, he asserts that the US Federal Reserve is dedicated to devaluing speculative assets and that digital currencies suit that description. He stated:

“Don’t get memed. Don’t get SPAC’d. Don’t get crypto’d. And you’ll get through this thicket and find yourself in a much better time when we are sufficiently oversold for a huge bounce.”

According to Mad Money host Cramer, the Fed can wash out any effort that can be considered “gambling.” The American said that the organization might also lose some major ones in the process.

Cramer’s unknown stance toward the crypto industry

It is safe to conclude that Cramer is one of those people whose opinions on the crypto market frequently alter, typically in response to market pricing. When bitcoin fell below $4,000 in 2018, he called it an “outlaw currency” at the time. But when the asset’s value soared to $65,000 last spring, he swore to earn his salary in it.

After the Chinese crypto crackdown, the digital currency market had a significant collapse a few months later, and Cramer once more did a U-turn, claiming that he had practically all of his Bitcoin cashed out. Cramer claimed in October as Bitcoin was soaring up last year that he entered the crypto market “simply gambling.”