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."
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 — and a widening U.S. national debt — devalues the dollar.
However, he acknowledged that cryptocurrency is also fairly new and doesn't yet have a proven track record.
Cramer expressed skepticism that the government will be able to solve the debt issue any time soon.
"I think bitcoin, ethereum and maybe even some other cryptocurrencies deserve a spot in your portfolio, too," Cramer said.
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CNBC's Jim Cramer, I've, —, Cramer, cryptocurrency