CNBC’s Jim Cramer reflected on this on Thursday BitcoinThe U.S. dollar’s rapid rise – and while he praised the currency’s value, he said it would be unwise not to include stocks in a portfolio.

“While we could become the Bitcoin network, especially since President-elect (Donald) Trump christened us the Bitcoin Nation, I actually believe that investing is about more than just owning cryptocurrencies,” he said.

The cryptocurrency broke the long-awaited $100,000 threshold on Wednesday, rising more than 140% at one point this year. Cramer said he has been a supporter of Bitcoin for years, calling it an alternative to gold – an asset that can be used as a hedge against precarious government spending as the deficit rises.

Bitcoin was a hot topic during the 2024 presidential election and was embraced by Trump, who made big promises to the crypto industry during the campaign. In July, Trump spoke in Nashville at the biggest Bitcoin conference of the year. He vowed that the US would hold on to its Bitcoin assets, saying: “If crypto is to define the future, I want it to be mined, minted and made in the USA.”

On Wednesday, Trump posted on his Truth Social platform that he intends to nominate crypto advocate Paul Atkins to head the Securities and Exchange Commission. Atkins is expected to adopt a looser regulatory tone than current SEC Chairman Gary Gensler, who has led the government’s efforts to crack down on the crypto industry.

Cramer listed several stocks that, like Bitcoin, have seen huge market gains this year, including Palantir, Tesla, Costco And Nvidia. He reiterated his mantra that it is always important to have a diversified portfolio.

“I say I own both stocks and crypto,” Cramer said. “If Trump ever gets around to saying you have to buy Tesla, then you have an advantage over him.”

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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Nvidia and Costco.