Jim Cramer: ‘I’ve Liked Crypto for a Very Long Time’

Jim Cramer, host of CNBC's Mad Money, defended his support for cryptocurrency on Tuesday, recommending bitcoin and ethereum as portfolio assets amid concerns over rising U.S.

CNBC’s Jim Cramer is doubling down on his support for cryptocurrency, suggesting bitcoin and ethereum should be included in portfolios due to rising U.S. national debt and government spending challenges.

In a recent segment of CNBC’s Squawk Box, Cramer highlighted the appeal of digital assets amid concerns over the country’s mounting deficit. Despite skepticism from some, Cramer maintained his stance, arguing that cryptocurrencies could serve as a hedge against a devalued dollar.

“I’ve liked crypto for a very long time, mostly because I know there’s a huge constituency of investors who want to buy something that can protect them from our government’s busted budget,” Cramer said, adding:

“While there’s no proof crypto can protect you from anything — at least not yet — it’s a plausible story…Let’s just say sometimes that’s all you need in this business.”

Cramer pointed out the lack of enthusiasm among legislators to address the issue of the country’s debt, despite the urgent need for solutions like balancing the budget. However, political unwillingness to enact unpopular measures — such as raising taxes or cutting expenditures — leaves the problem unresolved.

“They’re not going to cut the deficit, and they’re not going to raise the debt ceiling,” Cramer said, referring to legislators. “They’re just going to keep printing money, and that’s why I think bitcoin, ethereum and maybe even some other cryptocurrencies deserve a spot in your portfolio, too.”

Cramer has had a fluctuating stance on cryptocurrencies over the years. In December 2020, he purchased bitcoin and later sold most of his holdings by mid-June 2021, reportedly using the profits to pay off a mortgage. Following the 2022 crypto market downturn, Cramer expressed skepticism toward digital assets. However, by early 2024, he acknowledged Bitcoin’s resilience, stating, “you can’t kill it,” and described its resurgence as a “remarkable comeback.”