CNBC Pro

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.

More In CNBC TV Picks

CNBC ProDan Niles sees no bottom in sight for stocks as earnings could be 'absolutely horrible'
CNBC ProFed and other central banks experiencing a ‘great awakening,’ Allianz’s Mohamed El-Erian says
CNBC ProThere's no bottom in sight yet, says top chart analyst as the Dow breaks below 30,000