Bitcoin Rises 37% After Jim Cramer’s Sell Call

Bitcoin surged roughly 37% in the weeks following Jim Cramer’s August 3 announcement that he would exit his entire Bitcoin position, citing concerns about quantum computing.

Price Movement Since the Sell Call

On August 3, Bitcoin closed near $63,520. Within 49 days the price reached an intraday high of $87,395, a gain of about 37.6%. Even after a slight pullback to around $85,500, the rally remains roughly 35% above the level at which Cramer spoke.

Market Impact

The price rise added approximately $475 billion to Bitcoin’s market capitalization. Derivative markets saw over $1 billion liquidated on September 21, with short positions accounting for roughly $850 million of that amount, indicating a short‑covering squeeze.

Background of the Quantum Concern

Cramer’s apprehension originated from a July 30 interview with IBM Chairman and CEO Arvind Krishna, who suggested a three‑to‑four‑year window before quantum computers might threaten Bitcoin’s cryptography. Krishna’s timeline points to roughly 2029‑2030.

Historical Context of Cramer’s Bitcoin Calls

• June 10: Cramer posted on X that “Bitcoin and gold–bad money, being liquidated for SpaceX.” Bitcoin was near $61,511 that day and is now about 40% higher.
• December 2017: Called Bitcoin “monopoly money.”
• June 2021: Said he was selling most of his holdings amid China’s crackdown.
• January 2024: Warned of a “nasty” sell‑off after spot Bitcoin ETFs launched.

Other Factors Driving the Rally

Beyond the short squeeze, broader risk appetite has improved as oil prices and Treasury yields eased, providing additional support for Bitcoin’s price gains.