Bitcoin Recently Hit an All-Time High, Should You Buy?

Jim Cramer says he never comments on Bitcoin, but he did discuss the cryptocurrency with his Trading Strategies roundtable.

Author:: Jim Cramer
Publish date:: May 14, 2017 11:00 AM EDT

Bitcoin crossed $1,800 Thursday for the first time ever, although it pulled back to around $1,780.35 as of Friday morning. Jim Cramer talked Bitcoin this week in his monthly Trading Strategies roundtable with four of TheStreet's top columnists.

Panelists noted that people are using the so-called "cryptocurrency" to store value. For instance, the panel speculated that people in Venezuela -- where the economy seems on the brink of collapse -- might turn to Bitcoin rather than gold because governments can seize precious metals but not Bitcoin.

The panel also discussed Bitcoin ETFs, which are one of the only ways to short the currency.

Click here to watch the entire Trading Strategies roundtable, or here to see detailed advice on how to play markets this month. You can also get Jim Cramer's latest insights on markets every trading day at Real Money, our premium site for active traders.

(This item has been updated with the latest Bitcoin prices.)