Jim Cramer Is Selling His Bitcoin, Citing the Quantum Threat. Here's Why He's Wrong.
Bitcoin's developer community is already working to combat the potential threat posed by quantum computers.
Overview
CNBC Mad Money host Jim Cramer is selling his Bitcoin (CRYPTO: BTC), but not for the reason you might think. He's not dumping crypto for artificial intelligence stocks in search of higher returns, as many investors are now doing.
Instead, Jim Cramer is selling his Bitcoin because he's worried about the "quantum threat." In short, he's concerned that super-powerful quantum computers will soon be able to crack Bitcoin's cryptography, potentially leading to hundreds of billions of dollars in losses for crypto investors.
Details
Cryptocurrencies are valuable for the cryptographic encryption they provide. If that encryption is ever put at risk, it could lead to a crisis of investor confidence. That's why the so-called "quantum threat" posed by quantum computers has been percolating around Bitcoin for nearly a decade now.
Source
Originally published at www.fool.com.