Martin Shkreli, also known as “Pharma Bro,” has escalated his stand against quantum computing firm IONQ Inc. (NYSE:IONQ), accusing the company of peddling exaggerated capabilities to crypto investors.
Responding to a prominent Bitcoin (CRYPTO: BTC) investor’s anecdote about a quantum firm’s impossible mining pitch, Shkreli bluntly declared, “They were lying.”
The ‘Trivial’ Bitcoin Pitch
The controversy ignited over a social media post from Mike Alfred, a value equity investor who sits on the board of Bitcoin mining company IREN Ltd. (NASDAQ:IREN).
Alfred shared that a major quantum company advised him to stop investing in crypto mining, claiming their technology made it “relatively trivial” to mine all remaining unmined Bitcoin in a mere 48 hours.
Shkreli explicitly named IONQ as the culprit behind the outlandish claim. “IONQ said this to a lot of people and they were lying,” Shkreli posted on X.
When a user expressed disappointment that he didn’t reiterate his usual call to short the stock, Shkreli casually responded, “I mean, yeah, of course.”
A History Of ‘Crazy’ Statements
This latest accusation aligns with Shkreli’s long-standing skepticism toward IONQ’s leadership and technical capabilities. In late 2025, he openly mocked CEO Peter Chapman for comparing the company’s growth trajectory to tech behemoths like Nvidia Corp. (NASDAQ:NVDA) and Cisco Systems Inc. (NASDAQ:CSCO), labeling it the “craziest statement from a CEO I have ever heard.”
Shkreli has consistently referred to the quantum hardware developer as “one of the best shorts” of his career, repeatedly accusing the company and its peers of relying on revenue gimmicks.
Adding fuel to his short thesis, critics have pointed out that Chapman previously liquidated nearly 80% of his beneficial stake when the stock’s valuation peaked.
Reality Check On Quantum Hype
The notion that any current quantum computer could mine the remaining Bitcoin supply in two days is widely considered a massive technological stretch.
Shkreli’s bearish stance on the near-term viability of commercial quantum applications mirrors sentiments from tech leaders like Nvidia's Jensen Huang and Meta Platforms Inc.'s (NASDAQ:META) Mark Zuckerberg, who both estimate practical implementation is still 15 to 20 years away. For now, Shkreli remains adamant that IONQ’s lofty promises are pure fiction.
How Has IONQ Performed In 2026?
Shares of IONQ have advanced by 39.96% year-to-date. It closed 10.60% higher at $62.80 apiece on Monday, and it was 2.07% higher in premarket on Tuesday.
Over the last month, IONQ stock was up 27.57%, and it rose 15.53% over the last six months and 60.94% over the year. Benzinga’s Edge Stock Rankings indicate that IONQ maintains a strong price trend in the short, long, and medium terms.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Imagn/Robert Deutsch-USA TODAY
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