Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Crypto investments and research firm CoinShares has joined the conversation around Bitcoin and potential threats from quantum computers. In a newly released research report, the firm said quantum computers do not pose an immediate risk to Bitcoin, alleviating concerns from market stakeholders.
Real truth about Bitcoin quantum risks
Per the research report, CoinShares said the number of Bitcoin that is currently at risk is less than 8% of the total. With this, it noted that only 10,200 BTC can disrupt the market if they are compromised.
Compromising even these vulnerable addresses may not be as easy as many think. As the report noted, breaking Bitcoin will require 100,000 times more powerful quantum computers than what the tech world currently has. Achieving this feat will take a long time.
The conversations around quantum computers and their impact on Bitcoin remain at the forefront. While many have different projections on the timeline required for drastic changes, CoinShares believes any significant threat is still 10 to 20 years away.
Before this period, it was noted that Bitcoin developers could adopt quantum-resistant signatures through soft forks. This way, the research noted that Bitcoin will be able to preserve its core principles.
While different analysts have shared different opinions about what to expect in the quantum world, CoinShares believes users will have enough time to migrate funds before any damage is recorded.
Is quantum computing suppressing Bitcoin price?
The sentiment around Bitcoin and the broader crypto industry is negative, marked by intense volatility in price action. Experts have linked the BTC price crash to quantum computing risks, despite evidence pointing otherwise.
In the global market, macro headwinds around tariffs and geopolitical instability have continued to weigh on sentiment. It remains to be seen whether the BTC price will chart a sustained path toward retesting its all-time high (ATH) as more data emerge as to its correlation to quantum risks.
As of writing time, the top coin was changing hands for $66,072, up 4.73% in the past 24 hours. While metrics have flipped positive, analysts advocate caution, judging by short-term historical trends.
Dan Burgin
Vladislav Sopov