There’s a real school of thought that you can make money trading the opposite of whatever Jim Cramer suggests on TV every day, known as the Inverse Jim Cramer Strategy. But in this case, Carmer is definitely correct, even if it’s a little late and he’s already cashed out.
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Investing in cryptocurrency is nothing but gambling. True believers will trot out arguments about how bitcoin is a store of value or about how it’s a finite asset because of the math involved. But that simply doesn’t matter. Bitcoin, the largest cryptocurrency in circulation, is a speculative asset that doesn’t actually work well as a currency and while there are a finite number of coins, people can make an infinite number of new “finite” coins: Bitcoin 2.0, Bitcoin 3.0, and so on.
Or, as we’ve seen in the real world, there are coins like Luna, Forsage, AXS, Celsius… you get the point. There’s nothing there but smoke and mirrors.