Jim Cramer liquidates Bitcoin holdings citing risks from quantum computing breaking cryptographic encryption within years.
CNBC host Jim Cramer has sold his Bitcoin holdings, citing concerns over the “quantum threat” to cryptographic security. He warns that advancements in quantum computing could compromise Bitcoin’s encryption, potentially risking hundreds of billions in investor losses.
The quantum threat has been debated for nearly a decade, with recent research from Alphabet’s quantum computing unit suggesting up to one-third of all Bitcoin could be at risk. While current computers lack the power to break encryption, Cramer’s move reflects growing unease over near-term vulnerabilities.
No immediate market reaction was reported following Cramer’s disclosure. The broader crypto market remains focused on regulatory developments and macroeconomic trends.