Bitcoin surged by nearly $2,500, rebounding from a local bottom at $62,200 to reclaim the psychologically important $65,000 level. This rally came just days after CNBC Mad Money host Jim Cramer announced the complete liquidation of his BTC holdings, citing the quantum computing threat. IBM CEO Arvind Krishna had suggested that quantum advances could become a real threat to existing encryption methods within three to four years. The crypto community and market participants largely dismissed these concerns, estimating that supercomputers capable of breaking modern cryptography are at least 10 to 20 years away. This episode once again illustrates the so-called Inverse Cramer strategy, where Cramer’s high-profile sales have surprisingly often coincided with a local price bottom followed by a recovery.
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