I’m a ‘crypto bug’ as a hedge, but there’s a risk it could fall further

Jim Cramer

Scott Mlyn | CNBC

CNBC’s Jim Cramer said Monday he’s a “believer in cryptocurrency” as a hedge, but believes there’s a risk that it falls further.

“I’ve always been a gold bug, but now I’m a bit of a crypto bug just as a hedge,” Cramer said on “Squawk on the Street.” “I don’t swear by it.”

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

During the multi-day conference, El Salvador President Nayib Bukele announced plans to adopt bitcoin as a legal tender, which would make the country the world’s first sovereign nation to do so.

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