CNBC's Jim Cramer: "The NFT is a house of cards"

The well-known TV host of Mad Money on CNBC, Jim Cramer, once again expressed his skepticism towards cryptocurrencies. This time he also criticized fungible tokens and NFT items.

On the latest episode of CNBC's Squawk Box, Kramer called NFTs a "house of cards" that could collapse in an instant. He said that he does not know at all what can be done with non-fungible assets and what value they have in principle.

Jim said that people should look to more valuable assets rather than invest in such tokens. He also recommended that NFT holders sell these things in order to save at least some of their funds.

Jim Cramer summed it up:

It's all just a house of cards. Does anyone really own NFTs? I don't even know what to do with the fungible token. What to do with a non-fungible token? I don't think anyone should be in any of them. I think everything should be sold.

On January 3, Cramer also made negative remarks towards cryptocurrencies. He told what he expects from the digital asset industry for the coming year. According to the CNBC host, 2023 will be a bearish year and in a global perspective, the trend will maintain its downward position.

At the moment, Bitcoin has risen to $17,400 and so far is in line with the expectations of the part of the audience that expected a bullish move.

Previously, the Mad Money host on CNBC called XRP, Solana and Dogecoin assets big minuses that cannot grow and he is already tired of constant discussions of tokens that can be scams.

For Kramer, such statements are commonplace. The crypto community is accustomed to his skepticism about assets amid negative events. After FTX collapsed and filed for bankruptcy, Jim's stance became more active and negative.

Despite his statements, many in the digital asset community do not take the statements of the Mad Money host seriously, since most of his predictions end up with completely opposite results. One such example is Ethereum last year. According to Jim Cramer, the main altcoin should have shown strong growth in 2022, but instead, the coin fell by more than 50% in relation to Cramer's forecasts.