Cramer sells Bitcoin on quantum warning

CNBC host Jim Cramer announced on air that he plans to sell his Bitcoin holdings after IBM CEO Arvind Krishna warned that quantum computers could break cryptocurrency cryptography within three to four years. Krishna made the comments during a July 30 interview, also stating IBM expects quantum computing to contribute to earnings by 2028-2029. Cramer's announcement, made days later, sparked the 'inverse Cramer' meme among traders, who often take the opposite side of his calls. However, Bitcoin remained stable near $64,000, showing limited market reaction. The event also highlighted ongoing research into quantum threats to Bitcoin, with estimates from Alphabet Inc., Stanford, and the Ethereum suggesting that breaking Bitcoin's secp256k1 curve would require 1,200-1,450 logical qubits, far beyond current capabilities. IBM and University of Chicago demonstrated a 70-logical-qubit circuit, a milestone but still insufficient. The debate over quantum risk continues, with some experts like Adam Back seeing no threat for decades, while others like Ben Bernstein suggest a shorter timeline. Cramer's sale remains unconfirmed, and the size of his holdings is unknown.