Cramer: ‘I am a little bit of a crypto bug’ as a hedge, however there’s danger it might fall additional

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Jim Cramer

Scott Mlyn | CNBC

CNBC’s Jim Cramer mentioned Monday he is a “believer in cryptocurrency” as a hedge, however believes there is a danger that it falls additional.

“I’ve at all times been a gold bug, however now I am a little bit of a crypto bug simply as a hedge,” Cramer mentioned on “Squawk on the Street.” “I do not swear by it.”

Cramer’s feedback come days after the world’s largest bitcoin conference was held in Miami.

In the course of the multi-day convention, El Salvador President Nayib Bukele introduced plans to adopt bitcoin as a legal tender, which might make the nation the world’s first sovereign nation to take action.