Circle Internet Group (CRCL): People Sent Me Emails Saying I Don't Know Anything, Says Jim Cramer

We recently published 10 Stocks That Jim Cramer Talked About. Circle Internet Group (NYSE:CRCL) is one of the stocks Jim Cramer recently discussed.

Circle Internet Group (NYSE:CRCL) is a firm that has gained traction among investors due to its stablecoin holdings. Stablecoins are quite hot in the digital payments industry, and Circle Internet Group (NYSE:CRCL)’s shares have gained 127% year-to-date as they have experienced tailwinds from promising legislation in Congress. However, recently, Cramer has wondered whether Circle Internet Group (NYSE:CRCL)’s advantage in the stablecoin industry might be competitive enough to deter rival entrants. This time, he discussed how suggesting the lack of a competitive advantage led him to receive unsavory emails:

“Well like the guys from Circle, I mean I said that maybe there’s a possibility that JPMorgan and Blackrock could do a stablecoin. And you know you get the usual emails which is like you don’t know what you’re talking about, it’s going to be much bigger.”

Here’s what Cramer said earlier about Circle Internet Group (NYSE:CRCL)’s lead in the stablecoin industry:

“But I question, whether Circle is going to be proprietary? Because anyone can set up a stablecoin.

“I don’t think so [whether they have anything special.” There’s nothing proprietary about what they have. And that’s my point.”

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Disclosure: None. This article is originally published at Insider Monkey.