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Jim Cramer Urges Investors To Get Out Of Crypto – ‘It’s Never Too Late To Sell’

CNBC’s Jim Cramer told investors on Monday that they still have time to sell their cryptocurrency holdings.

“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 a terrible position, and that’s what you have if you own these so-called digital assets,” he said.

collapse FTXThe bankrupt crypto exchange, which at its peak was worth $32 billion, has put the crypto space under scrutiny and fueled mounting losses in a market that has seen digital assets hurt by Federal Reserve rate hikes.

Cramer, who warned against staying in speculative assets while the Fed continues to tighten the economy, reiterated his argument and said investors should not be fooled by the inflated market capitalization of some coins.

He added that he expects more fringe names, including XRP, dogecoin, Cardano as well as Polygon drop much further, possibly to zero.

leashthe so-called stablecoin, which should be sort of pegged to the dollar, still has a $65 billion market cap,” he said, adding: “There is still a whole industry of crypto boosters out there desperately trying to keep all these things up in the air – not too different from what happened to bad stocks during the dot-com crash.”

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