CNBC host Jim Cramer said LTC holders are idiots.
Cramer took an opposing view on cryptocurrencies, targeting those who invested in these assets.
“I think anyone who owns tokens like this, like Litecoin… I think you’re an idiot. I didn’t go to college to be stupid”
Cramer said he would never invest in cryptocurrencies due to lack of regulation and concerns about trusting a deposit bank.
Cramer stated that he faced a process he described as frustrating when trying to get his money from a crypto firm.
Cramer urged the US Securities and Exchange Commission to put pressure on the cryptocurrency industry:
“I think they need to do a big sweep. They have to stop people making money. These are worse than even the worst Nasdaq stocks.”
Finally, Cramer said he prefers to work with traditional banks such as JPMorgan Chase Bank.
“I love having my money at JPMorgan. Every Monday I check if my assets are there. It feels good”