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(Kitco News) Investors should think about alternative investments, said CNBC's Jim Cramer as he revealed his current top three picks — gold, bitcoin, and cash.
Bitcoin is a new addition to Cramer's list. It is "almost irresponsible not to include" bitcoin, he told CNBC's Squawk Box on Tuesday.
"As an alternative, I used to say, own some gold, own some cash. Now I say, own some cash, own some gold, and own some bitcoin. It is a little inflated today, but there are still a lot of people thinking it is going to $100,000," Cramer said.
Cramer added that bitcoin is exciting, and he could talk about it "endlessly," but he warned not to invest too much into the cryptocurrency without hedging.
"At the end, you have to have some sort of hedge on it. If you take it and it goes down, you'd end up saying, 'why did I use bitcoin when I can transact in dollars'," he said. "But as far as a way to be able to have a pastiche of things that you should do with your cash, I am all for it."