We are getting closer:
The boss of Google
I assume you are talking about Sundar Pichai, the CEO of Alphabet, Inc and Google LLC? He's not a "technology" officer, he's a business officer. That being said...
What exactly does he mean when he says it will "break encryption"?
MD5 hashing has been "broken" since 1996, and yet would probably still work just fine as a Bitcoin hashing algorithm.
Without details of what will be broken, and how it will be effected, it's just an arbitrary opinion about a very generic concept.