Cramer: Here's why I bought back into ether instead of bitcoin when crypto stabilized last week

Bitcoin and ether are the two most prominent cryptocurrencies.
Jaap Arriens | NurPhoto | Getty Images

CNBC's Jim Cramer said Monday he recently added to his holdings of ether, the world's second-largest cryptocurrency by market value.

The "Mad Money" host had trimmed his position in ether — which runs on the Ethereum blockchain — in early May after the digital currency hit what was then a series of record highs.

"I went back into Ethereum because bitcoin held [$30,000]," Cramer said on "Squawk Box," referencing bitcoin's stabilization above that key support level after the cryptocurrency briefly plunged below $29,000 last week.

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