Jim Cramer plans to sell his Bitcoin over quantum fears as BTC rises 1.6%

Former hedge fund manager and CNBC “Mad Money” host Jim Cramer said he plans to sell all his Bitcoin due to quantum computing fears. “I’m going to sell mine [Bitcoin],” said Cramer during a Friday Mad Money episode, citing quantum computing concerns that IBM Chairman and CEO Arvind Krishna had raised in on his show the previous day. During Thursday’s episode, Krishna told Cramer that he should get “paranoid” about quantum computing’s threat to cryptocurrencies in the next three to four years.Bitcoin’s (BTC) price was up roughly 1.7% on Tuesday to trade above $63,500, but was down 27% year-to-date, according to TradingView data. Some crypto investors celebrated Cramer’s remarks, referencing the popular “inverse Cramer” meme and investment philosophy, which ironically seeks to capitalize on the opposite of the investment calls made by the former fund manager.“If Cramer is selling, it’s time to start buying,” commented GRIT Trading Academy founder Archie Spencer. “Every time Cramer says sell, I add to my position. Been doing it since 2018. The inverse Cramer index remains undefeated,” wrote pseudonymous crypto investor Bitcoin & Barbells.BTC/USD, year-to-date chart. Source: Cointe...