Crypto valuations are the 'stuff that dreams are made of,' says J.P. Morgan asset management's Cembalest

A man walks past a bitcoin symbol in the window of a company that offers blockchain application services on Dec. 21, 2021 in Berlin, Germany. Bitcoin and other virtual currencies rose strongly in value in 2021.
Sean Gallup | Getty Images News | Getty Images

Michael Cembalest, chairman of market and investment strategy at J.P. Morgan Asset Management, said though they may be tempting, he's resisting buying any cryptocurrencies.

More In Pro Insight

CNBC ProBitcoin is wrestling with $24,000. What chart analysts see happening next with the crypto's comeback
CNBC ProInvestors are fleeing these bonds that protected you against inflation
CNBC ProTech investor names a ‘must own’ FAANG stock to buy the dip — and one to avoid