During a recent CNBC interview, billionaire Ray Dalio predicted that Bitcoin could be potentially cracked with quantum computing in the future.
That said, Dalio claims that Bitcoin currently constitutes roughly 1% of his portfolio.
As reported by U.Today, blockchain sleuth Chainalysis recently predicted that Bitcoin's security could be broken within 5-10 years, arguing that the time to act is now, even though there is no immediate danger.
Solana cofounder Anatoly Yakovenko recently argued that Bitcoin needs to migrate to a quantum-resistant signature scheme by around 2030 to be safe. However, such a decision would be controversial since it would require a hard fork.
Meanwhile, Blockstream CEO Adam Back recently downplayed the threat posed by quantum computing.
Bitcoin will not be reserve currency
Dalio, who first got into crypto back in 2021, is convinced that Bitcoin is not going to be a reserve currency in the future.
On top of the quantum threat, Dalio has also mentioned that Bitcoin could be tracked.
The Bridgewater Associates cofounder previously praised Bitcoin's resilience to justify his Bitcoin purchase.
However, in a 2024 interview with CNBC, the billionaire expressed skepticism about Bitcoin’s privacy and regulatory risk, arguing that the government could shut it off.
Earlier this year, the billionaire seemingly adopted a more favorable view of Bitcoin, recommending that investors allocate up to 15% to the flagship cryptocurrency or gold.
However, he still maintained a certain degree of skepticism, predicting that Bitcoin could potentially end up being broken in the future.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team