Which is better, gold or cryptocurrency? Both, Cramer asserts

Gold has been the bedrock of financial civilisation for millennia.

Could this be changing, though, with the introduction of cryptocurrencies?

Mark Bristow, president and CEO of gold mining company Barrick Gold, recently told Jim Cramer on Mad Money that gold remains as strong as ever, despite the advent of alternative monetary systems, most recently including cryptocurrency.

Bristow highlighted Barrick's recent discovery of new potential in Nevada as "massive." Nevada's returns will be huge, he told Cramer.

When asked which asset class he prefers, Bristow stated that gold is the only method to truly hedge one's risks. Bitcoin's value fluctuates as frequently as it increases, he explained, leaving gold as the sole stable store of wealth.

Cramer later chimed in on the discussion about whether it is better to hold gold or cryptocurrency in a "No Huddle Offense" segment.

According to Cramer, the question is not even a discussion in many aspects. Gold and cryptocurrency, he maintained, are not in competition with one another. Gold, he explained, is an inflation hedge. It has a long track record, and supplies grow at a 1% annual rate, which keeps pricing "boring" and stable.

On the other side, Bitcoin and its competitors are a speculative investment, one that is thrilling and volatile, with no track record whatsoever.

Which one is the finest to own? Cramer stated that both can be used to diversify a portfolio, with gold used for insurance and cryptocurrency used for speculation.

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