Jim Cramer says it’s best to “stay away from speculative assets”
CNBC Mad Money host Jim Cramer advised investors to “stay away from speculative assets like cryptocurrencies” as regulators tighten measures to combat rising inflation across the US. The expert referred to a recent speech by the head of the department, Jerome Powell, which reflects the point of view that Americans should not invest in not the most reliable assets.
“Sanctions will get tougher until gambling is eradicated. I need you to stay away from unprofitable garbage […] Dogecoin, Polkadot, Avalanche, DAI, Polygon, Shiba Inu, Avalanche, Uniswap, Cosmos, Optimism and a couple of other strange things,” Kramer said.
In addition, he noted that he no longer believes the opinion that bitcoin can be used as a savings tool, since the rate of the crypto coin has significantly decreased after the Fed tightened its policy. The expert believes that it is too early to talk about the end of the recession in the market, “until we completely eradicate such speculation.”
Against the backdrop of Cramer’s recent statement about stablecoins, information has emerged that more than 1.2 million SHIB holders will be able to pay with the crypto coin in 170 countries using an OKSE Visa card. The service does not take any hidden commissions during the operation, while users can track transactions on the network using a special application.
It was also previously announced that Binance Card now supports Shiba Inu. This means that more than 60 million merchants worldwide can now accept SHIB as a means of payment.
But the Dogecoin team decided to take action in connection with not the most positive recent news for the community members. We are talking about rumors that a certain “whale” owns almost 30% of all DOGE coins.
Representatives of the project claim that this whale wallet is actually an exchange wallet. They also emphasize that an investor owning a significant share of the supply of a crypto asset does not add to the positive reputation of the company.
“As it turns out, this infamous whale wallet, which was split into multiple addresses in October/November 2021, contains the assets of hundreds of thousands of retail holders,” the company noted, emphasizing that it is mostly crypto exchanges and brokerage platforms that own the best Dogecoin wallets.
What do you think about it?
