Bitcoin is No Substitute for Gold, says CNBC Mad Money Host Jim Cramer

The number of references to Bitcoin as “digital gold” has been going through the roof as its value hovers near the $20,000 territory constantly.

However, there are those who say that it’s unlikely to completely replace gold. Among those is Jim Cramer, host of CNBC’s Mad Money segment and a former hedge fund manager.

“The jaw-dropping run in Bitcoin has been very exciting. But gold is not being supplanted by Bitcoin as the go-to alternative to actual currency,” he said.

In a segment he did with Carley Garner, co-founder of DeCarley Trading, he looked at the weekly price of gold to make a point.

“The charts… suggest that gold might be ready to make a comeback.