Amid renewed debates regarding the potential threat of quantum computing to Bitcoin’s cryptographic integrity, Michael Saylor, a prominent advocate for Bitcoin, has provided a definitive perspective on these concerns.
Saylor, who is the co-founder of Strategy (previously known as MicroStrategy), contends that advancements in quantum technology will ultimately bolster Bitcoin rather than undermine it.
In his evaluation of this topic, Saylor coined the term “Bitcoin Quantum Leap,” asserting that quantum computers would not dismantle Bitcoin but instead enhance its robustness. He predicts that in a future dominated by quantum technology, necessary updates to the network will occur; active coins will transition to new and more secure addresses while lost or inaccessible coins remain permanently immobilized. This transition is expected to boost network security while simultaneously reducing the circulating supply of Bitcoin, thereby fortifying its overall strength.
Conversely, Grayscale—a firm specializing in digital asset management—shares Saylor’s view and believes that quantum computing does not currently pose an immediate threat to Bitcoin. Analysts at Grayscale indicate that any quantum computer capable of compromising Bitcoin’s cryptography is unlikely to be developed before 2030 at the earliest. They note that while research into potential risks associated with quantum computing and preparations for “post-quantum cryptography” are set to accelerate, such advancements are not anticipated to significantly influence cryptocurrency prices over the next year.
*This information should not be considered as investment advice.