Famous financial journalist, host of CNBC’s “Mad Money” show Jim Cramer has told CNBC’s Squawk Box co-host Becky Quick that one should be negative on crypto right now.
Slamming DOGE, XRP and LTC again
He is negative in fact, especially on three top coins — Dogecoin (the original meme cryptocurrency), Ripple-affiliated XRP and Litecoin (widely known as “digital silver” in the crypto space). He stated that these are “$80 billion worth of non-Bitcoin” and they are “destined to be wiped out”.
«I think you should be negative on #crypto. I’m negative on $XRP, $LTC, and $DOGE because I haven’t been able to find anyone that takes them,» says @jimcramer. «It’s like $80 billion worth of non-Bitcoin that’s destined to be wiped out.» pic.twitter.com/lrFbjtT0Wn
— Squawk Box (@SquawkCNBC) December 16, 2022
As reported by U.Today earlier, Cramer had slapped XRP, DOGE and Solana (SOL) as “gigantic” cons.
Overall, the financial expert, who overall prefers stocks to digital assets, has been constantly criticizing top cryptocurrencies, aside from Bitcoin and Ethereum. As reported by U.Today, he invested in these two top digital coins in 2020, when BTC was trading at $12,000. When it hit an all-time high close to the $69,000 level a year later and Ethereum price jumped too, he used his profit from BTC and ETH to buy a farm and a boat, according to his earlier tweet.
As for other cryptocurrencies, the “Mad Money” host keeps slamming them as dubious and warns everyone not to invest in them in order not to “lose money every year”.
Doge core dev responds to Cramer
As for his criticism towards meme crypto Dogecoin, a core developer of DOGE, Michi Lumin, responded to Cramer. He stated that DOGE cannot be a “con”, since it is not run by any organization or individual, so it has no beneficiaries but the Dogecoin community.
DOGE was created in 2013 by two IT engineers, Billy Markus and Jackson Palmer”. Markus left the project almost immediately, believing that all crypto growth is about speculation and trading cryptocurrencies is nothing but gambling.