Cramer on Bitcoin: Cramer told Ross he plans on holding his remaining portion of Bitcoin.
“I bought it more as an asset than a trade,” Cramer said.
Cramer’s bitcoin more than doubled since he made his purchase around $14,000. As he does with stocks, Cramer said his rule is to take out the cost basis when a stock doubled.
Related Link: 8 Stocks To Play Bitcoin's Resurgence
“I’m not doing anything I wouldn’t do with a stock.” Cramer has sold off almost his entire cost basis and is letting the rest run. “I’m gonna say hold on.”
Cramer cautioned that Bitcoin may have gone from being a currency to a speculative object. He said he would consider adding more to his position if Bitcoin fell to the $14,000 or even the $18,000 range.
Bitcoin Price Action: Bitcoin trades around $31,083 at publication time. The crypto hit new all-time highs over the weekend with the price soaring to $34,000.
The Grayscale Bitcoin Trust GBTC was up 10% to $35.08 on Monday.
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