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Bitcoin holds near $64,000 after Jim Cramer flags quantum risks

Cramer said he plans to sell all of his bitcoin, pointing to IBM’s view that quantum advances could stress modern cryptography within three to four years.

Reported · Written up by our desk · Market Structure

CoinDesk reports that Jim Cramer said he plans to sell all of his bitcoin holdings, citing concerns that advances in quantum computing could undermine cryptocurrency security in the next three to four years.

The comments came after Cramer’s July 31 interview with IBM Chairman and CEO Arvind Krishna, who warned that quantum computers could challenge modern cryptography within that window and urged investors to be “paranoid” about the risk, the outlet said.

Despite the warning, bitcoin has held near $64,000, even as other market factors were noted, including a Coldcard hardware wallet hack and rising bond yields, according to CoinDesk.

CoinDesk also noted that no wallet tied to Cramer has been disclosed or independently verified, and pointed to the crypto community’s view of Cramer as a contrarian signal, including the existence of the Inverse Cramer Tracker ETF (SJIM), which launched in 2023 and shut down in early 2024 after not drawing meaningful assets.

Latest closeBitcoin $63,513.00 ▲0.1%

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