CNBC’s Jim Cramer on Tuesday defended his stance on cryptocurrency, saying he endorses owning some as a hedge against government spending and a ballooning deficit, as “national debt worries are never going to go away.”
“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,” he said. “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.”
Some on Wall Street believe that due to cryptocurrency’s fixed supply, it will be a solid asset in the event that continued excessive federal spending —…
