Jim Cramer on Gold, Cryptocurrency and Insurance vs. Speculation

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Jim Cramer said that though he believes in both gold and cryptocurrency, the former is an insurance policy while the latter is more of a speculative play. 

"Gold is much more about Berlin in 1937. You can put gold in your pocket and get out. Gold is an insurance policy against anarchy," Cramer said. 

In a recent column on Real Money, Jim Cramer had a very simple message: You can believe in both, while approaching the two assets differently.

"Far too often in this market I see people attacking those who they presume are wishy-washy. To me that's bush league reasoning. I think you can own both gold and crypto as hedges but you need to be realistic: gold's value is its timelessness. Crypto? It's its timeliness, and, I fear, not much more," Cramer wrote. 

Catch Cramer's full take on the gold versus cryptocurrency debate in the video above. 

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