Jim Cramer: 'I would not touch crypto in a million years'

Jim Cramer, CNBC's Mad Money host, raised his concerns Friday about cryptocurrency, saying he wouldn't get involved with it "in a million years," especially after the downfall of last month's implosion of crypto exchange FTX ( FTT-USD ). The famed Wall Street pundit spoke out against market participants who hold solana ( SOL-USD ) and litecoin ( LTC-USD ), calling them "idiots." Most of the largest digital tokens by market cap are on track to close out 2022 with Y/Y losses mounting to as much as 94%, as seen in this chart . Bitcoin ( BTC-USD ), the world's largest crypto, is off 67% from a year ago. "I did not go to college to get stupid," Cramer said. "These people who own these things should not own them." He explained that he would never personally invest in crypto given a shortage in regulations and "because I wouldn't trust the deposit bank." For a contrarian view, see why Ark Invest CEO Cathie Wood thinks bitcoin ( BTC-USD ) will hit $1M by 2030 .