Bitcoin gains 1.6% as Jim Cramer plans quantum exit

Bitcoin rose about 1.6% to trade near $63,700 on Aug. 4 after CNBC host Jim Cramer said he planned to sell his holdings because of concerns about quantum computing. Summary Cramer said he plans to sell Bitcoin after IBM chief Arvind Krishna raised quantum concerns. Bitcoin traded near $63,700, gaining 1.6% despite Cramer’s warning and weak spot market liquidity conditions. Google estimates fewer than 500,000 physical qubits could eventually break widely used elliptic curve cryptography. Glassnode classifies 1.92 million Bitcoin, or 9.6% of supply, as structurally exposed to quantum attacks. A 16,400 Bitcoin whale transfer moved funds between wallets, not onto any identified cryptocurrency exchange. Cramer tied the decision to a CNBC interview with IBM Chairman and CEO Arvind Krishna. Krishna said investors should become “paranoid” about cryptocurrency security within three to four years. Cramer later said, “I’m going to sell mine.” Neither the size of his holdings nor evidence of an executed sale has been disclosed. Bitcoin rises despite Cramer’s sell plan Bitcoin climbed from an intraday low near $62,387 to as high as $64,117 before easing. The recovery left the asset about 1.6% h...