Jim Cramer Prefers Gold to Bitcoin for Portfolio Insurance, but Backs 2 ‘Vetted’ Cryptos

On Mad Money, CNBC host Jim Cramer told caller Jacob, who had put much of his investment money toward a home down payment, that gold bullion was his preferred portfolio hedge over Bitcoin, though he identified Bitcoin and Ethereum as vetted cryptocurrencies. For rebuilding, Cramer suggested dividing new money equally between index funds and five stocks Jacob likes, saying Bitcoin or gold could insure the mix; he favored bullion, or a gold exchange-traded fund such as SPDR Gold Shares, when bullion is unaffordable. Cramer cautioned that speculative low-quality tokens can cause losses. Brookings Institution senior fellow Robin Brooks wrote in August that he would avoid Bitcoin and did not consider it a safe haven.