In brief – Jim Cramer says he is selling his Bitcoin after IBM CEO Arvind Krishna told him to get “paranoid” about crypto’s cryptography within three or four years. – The warning follows a July 30 IBM and University of Chicago demonstration of verified quantum advantage. -…
aders invoked the “Inverse Cramer” trade, a pattern so established that a fund once existed purely to bet against his picks. CNBC host and long-time crypto critic Jim Cramer is out on Bitcoin—again
This time it’s over fears of the coming quantum computing threat, and it sounds like he might be out for good. Which is music to the ears of Bitcoin investors everywhere who prefer to be on the opposite side of the “Cramer trade.” “Should I be more careful?” Cramer asked late last week while interviewing IBM CEO Arvind Krishna, worried about whether quantum computers would be able to steal his coins. “I think that you should give yourself three or four years,” Krishna replied, “and at that point, I would get rather paranoid about it.” Cramer did not wait three or four years. “I realize I’m waiting. Ethereum, really, maybe even worse.
So I think that people have to take this man seriously because they’re doing commercial quantum,” he said while commenting on his interview. “Arvind Krishna knows quantum incredibly. He knows Bitcoin and quantum. And I’m going to sell mine.” “He’s the man,” Cramer continued. “Three, four years.