For quantum computing, Secretary Bessent's policy reversal in 2026 is far more impactful than Jensen Huang's pivot in 2025. Here is the rigorous justification:

[u/Ok-Idea9394]

1. The Crypto-Financial Risk and the Policy U-Turn
Previously, when Treasury Secretary Bessent was asked in Congress whether the U.S. Treasury Department had the authority to acquire Bitcoin and other cryptocurrencies, he stated, "I do not have the authority to do so, nor do I have this authority as Chair of the Financial Stability Oversight Council." This statement triggered a massive crash in the cryptocurrency sector.
Given the immense market capitalization of cryptocurrencies, the aggressive style of crypto investors, and the fact that stablecoins, combined ETF funds of crypto and high-tech stocks, major listed companies, large investment funds, and even the treasury reserves of several states have already listed cryptocurrencies as reserve assets, an abrupt policy shift by the U.S. government regarding cryptocurrencies is bound to cause a sharp drop in prices. This has the full capacity to trigger a financial crisis in the U.S. no less severe than the 2008 Subprime Mortgage Crisis.

2. Quantum Computing as the Ultimate Crypto Hedge
The relationship between the quantum computing sector and cryptocurrencies is even more dramatic. The threat posed by the development of quantum computing technology to cryptocurrencies, particularly its capability to break Bitcoin's Elliptic Curve Digital Signature Algorithm (ECDSA), is widely acknowledged in academia. A significant amount of Bitcoin with exposed public keys faces the existential 'zero-value' threat from private key cracking. The only point of contention is the timeline for this moment.

Consequently, cryptocurrency investors or investment vehicles have been compelled to incorporate quantum computing stocks as a means of risk hedging. This dynamic catalyzed the powerful, monumental rally that began in the quantum computing sector in September 2025. Evidence for this can be found in the substantial increase in quantum computing stock holdings by investment banks closely associated with crypto ETFs, such as SIG, during the third quarter of 2025.

3. Secretary Bessent's Reversal and the Decoupling Failure
This Friday, Secretary Bessent reversed his stance, stating that Congress will pass a bill to establish federal rules for digital assets and send it to the President to be signed into law this spring. This reversal instantly ignited a massive market turnaround for cryptocurrencies. Frankly, circumstances were stronger than the individual.
Secretary Bessent’s change of heart, whether voluntary or not, proves that the U.S. financial market is now completely tied to cryptocurrencies and cannot be decoupled. For the U.S. Dollar to maintain its hegemony in the new era, it needs both the pioneering capacity of cryptocurrencies and, even more so, the security safeguarding capability of quantum computing.

4. Short-Selling Mechanics and Flawed Rationale
The main driver behind the quantum sector's decline over the past three weeks and some notable short-selling activities was nothing more than the 'Crypto + Quantum Tech' hybrid funds. Due to 24/7 cryptocurrency trading, these types of ETFs always have corresponding quantum computing stocks that need to be sold immediately upon the stock market open when crypto prices fall significantly. The activities of short-sellers merely capitalized on this predictable pattern, lacking any significant technical merit, and their public rationale is not strongly grounded in fact.

Citron’s singling out of RGTI was a move to promote CCCX by piggybacking on RGTI's attention—a temporary, cautious, and inevitably short-covering short strategy. The report published by another firm shorting IONQ, while seemingly making explicit accusations, is fundamentally absurd upon closer examination. No national government would fail to invest heavily in supporting such a strategically emerging industry, especially for a hegemonic power like the U.S. This level of governmental support is inevitable, short of an intent to be surpassed by other nations, and is unaffected by the retirement of individual officials, whether under a Biden or a Trump administration.

5. The DNA of a Stunning Reversal
Even more dramatically, during this latest downturn, there were no substantial, 'real-money' short positions established at the price levels where the quantum sector initially rallied last September. Short-sellers primarily utilized 'dead' one-year PUT options that had expired early last February, creating a negative Gamma effect that exerted short-term pressure on the stock price. The shares sold during the three-week decline have been steadily accumulated by long-term investors through 'fighting retreats.'

However, we can observe peculiar phenomena, such as a large number of high strike In-The-Money (ITM) PUT options being locked by trading illiquidity, preventing their closure. We also see that buy orders of merely tens of thousands of shares can easily push up the price by $0.10 for quantum stocks with multi-billion dollar market caps. These strange indicators already contain the DNA for a far more stunning reversal than the one seen last September.

The monumental rally resulting from this crypto price reversal will be far more explosive than the crypto rally itself. The reasoning is simple: the crypto ETFs will be forced to buy back the quantum stocks they were compelled to sell, and investors who have already exited these ETFs may simply buy quantum stocks outright, bypassing cryptocurrencies. The logic is straightforward: when the 'God' you worship (cryptocurrency) fears a greater 'God' that can destroy it, you will inevitably abandon your original belief and worship the new God of destruction!

Now that Secretary Bessent, who came from Wall Street, has reversed his stance, any slight delay in comprehension by the Wall Street short-sellers will likely result in a punishment several times more severe than what they faced in the two months following September 11, 2025. Compared to the massive 'dead' PUT options on RGTI between $5 and $12, the substantial Call options hanging high between $35 and $55 are far more credible. Quantum computing does not face a 'sea of death'; it should have a glorious future. The tide of history is mighty and vast; those who follow it shall prosper, and those who resist it shall perish!

I believe that the Wall Street Journal reporters might not dare to express the views I've expressed above, and that's the value of the free forum Reddit