Is Bitcoin Overvalued? Jim Cramer Says He Takes Elon Musk at His Word

Tesla  (TSLA)  CEO Elon Musk implied that the price of bitcoin, as well as other cryptocurrencies, are extended. 

Bitcoin took a hit over the weekend and into Monday after Musk suggested on Twitter that bitcoin and other cryptocurrency valuations “seem high."

Tesla  (TSLA)  does own some bitcoin. Calling Musk a genius, Cramer said that if Elon Musk thinks that bitcoin has gotten ahead of itself, "I'm not going against him." 

Recap TheStreet Live: Everything Jim Cramer Is Watching in the Markets Tuesday