Here's why Cramer worries about Elon Musk's influence over the price of bitcoin

Jim Cramer
Scott Mlyn | CNBC

Recent price movements in bitcoin following comments from Tesla CEO Elon Musk have become a little comical, CNBC's Jim Cramer said Monday.

"A lot of people hang on Musk's every word," said the "Mad Money" host — who over the years has been complimentary and critical of the billionaire entrepreneur.

Musk is brilliant, added Cramer who owns a Tesla and bitcoin. "But I [also] felt from the beginning when he was on 'SNL' with dogecoin, people have to understand, this is a dice roll."

In a tweet early Monday, Musk sought to clarify that "Tesla has not sold any Bitcoin."

That came after Musk on Sunday afternoon raised questions by responding to a tweet from a user who speculated on Tesla's bitcoin holdings.

Bitcoin was lower but above $44,000 per token Monday morning after it traded in a range of just over $42,000 and nearly $46,000 overnight.

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