Jim Cramer: Fed makes ‘remarkable gain’ on cryptocurrencies
- July 4, 2022
- 0
Former hedge fund manager Cramer & Co. and CNBC Mad Money presenter Jim Cramer highlighted the progress the US Federal Reserve (FRS) has made in tackling digital assets.
Former hedge fund manager Cramer & Co. and CNBC Mad Money presenter Jim Cramer highlighted the progress the US Federal Reserve (FRS) has made in tackling digital assets.
“There is a front in the war against inflation that has had an outstanding victory for the Fed, and it is a war against financial speculation. […] “The work to destroy cryptocurrencies is almost complete, but they don’t seem to know about it yet,” he said.
According to Cramer, digital assets do not protect investors from anything, and the Fed needs to continue to fight inflation, especially on wages.
In October 2021, the server supported investors who buy cryptocurrencies and understand all the risks. According to Kramer, he did not invest in bitcoin or Ethereum as insurance against inflation, he “just gambled”.
Remember, according to Coinglass, the second quarter of 2022 was the worst quarter for Bitcoin in 11 years. The asset fell 56.2% from $45,000 to $19,884.
According to Mike Novogratz, head of Galaxy Digital, the stagnation in the cryptocurrency market will continue for about 18 more months, and the industry will see the first signs of recovery after the Fed eases its monetary policy.
Anticipating the 2007 mortgage crisis, investor Michael Burry predicted an ongoing decline in bitcoin price.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
