With Bitcoin (CRYPTO: BTC) catching a bid, Ethereum (CRYPTO: ETH) is worth buying, Jim Cramer said Monday on CNBC’s “Squawk Box.”
Cramer told CNBC that he purchased Ethereum after Bitcoin recently showed support and held the $30,000 level. “I’m going to continue to buy Ethereum,” Cramer added.
He prefers Ethereum over Bitcoin because people use it more often to buy things, Cramer said, adding that it has more of a use-case as a currency than Bitcoin.
Everyone wants to transact NFTs using Ethereum, he noted. “It’s just an exciting time.” Ethereum has outperformed Bitcoin year-to-date following the rise in popularity of NFTs.
Price Action: Ethereum is up 171.66% year-to-date, while Bitcoin is up 18.11% year-to-date.
At last check Monday, Ethereum was up 13.87% at $2,085.89.