Cramer Sells Bitcoin Amid Quantum Computing Fears
Financial news personality Jim Cramer has announced he will sell his Bitcoin holdings due to concerns over quantum computing's potential impact on cryptography. This decision comes after IBM chairman and chief executive Arvind Krishna warned investors to become 'rather paranoid' about the threat within a few years.
During an appearance on CNBC, Krishna stated that investors should give themselves three or four years before becoming concerned about quantum computers breaking cryptographic keys. He cited IBM's progress toward commercially useful quantum machines as the reason for his warning.
Cramer has decided to act on this advice and sell all of his Bitcoin. However, he did not disclose how much Bitcoin he holds or confirm whether he will actually follow through with selling it.