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

Jim Cramer

Scott Mlyn | CNBC

CNBC’s Jim Cramer said Monday he’s a “believer in cryptocurrency” but believes it could fall 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 multiday 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.