Michael Saylor downplays quantum computing’s threat to Bitcoin – ‘Not worried’ – Crypto News – Crypto News
Connect with us
Michael Saylor downplays quantum computing's threat to Bitcoin - ‘Not worried’ Michael Saylor downplays quantum computing's threat to Bitcoin - ‘Not worried’

Cryptocurrency

Michael Saylor downplays quantum computing’s threat to Bitcoin – ‘Not worried’ – Crypto News

Published

7 months ago

on

  • Saylor dismissed quantum computers as a long-term and not an immediate risk
  • He claimed the Bitcoin network will be upgraded to a quantum-resistant protocol if the risk becomes imminent

Most experts have decried the grave risk of superfast quantum computers to Bitcoin’s [BTC] underlying security. However, Strategy’s (formerly MicroStrategy) founder, Michael Saylor, has dismissed these fears, stating that quantum computers will become a threat in 10-20 years. 

In a recent CNBC interview, Saylor said, 

“I’m not worried about it. Bitcoin is a protocol; the software gets upgraded every year, the hardware is being upgraded continuously, and it is the hardest thing to hack.”

Saylor added that they’ll upgrade the BTC ‘software’ when the threat becomes imminent. Notably, two of the key Bitcoin network cryptographic algorithms, ECDSA and SHA-256, can be easily hacked if quantum computers advance in the near future. It could easily crack Bitcoin private keys and wipe out users’ funds. 

Quantum computer race

Market fears that a supercomputer could wipe out the +$3 trillion crypto market was first heightened in late 2024 by Google’s breakthrough quantum chip – Willow.

Fast forward to 2025, Microsoft has now unveiled its relatively superior quantum chip, further calling the community to the urgency of the advancement. These updates sparked renewed interest in quantum-resistant solutions through the BIP 360 proposal. 

Even so, Saylor believes that some of the top players in quantum research, like Microsoft, IBM, and Google, may not hurriedly go ahead with releasing their supercomputers in the market. He went on and added, 

“Google and Microsoft won’t sell you a quantum computer that cracks modern cryptography because it’ll destroy them, the US government, and the banking system.”

Consider this – Bitcoin had a market cap of $2.3 trillion at press time, based on its press time $107k price tag. Institutions, both public and private, including countries, control about 3.3 million BTC, worth over $350 billion. 

Given the ongoing merger between TradFi and crypto, especially through Bitcoin treasury companies like Strategy, the risk could have a massive ripple effect. 

Right now, Saylor’s firm has over 580k BTC, worth over $62 billion – Translating to 2.7% of the total BTC supply. 

Overall, while the super-computer risk may be 5-20 years away, ongoing conversations could help steer the Bitcoin network in the right direction and prepare it for a post-quantum era. 

Next: Ethereum holds steady at $2.5K as institutional giants quietly load up on ETH

Related Topics:
Continue Reading

Trending