Charles Edwards from Capriole Investment, a Bitcoin hedge fund, warns that Bitcoin could fall below $50,000 if it doesn't upgrade its security to protect against future quantum computing threats.
PS. The truth is, this isn't just a Bitcoin issue. Quantum computers will impact everything, including banks, airlines, and government systems that store national security secrets. If quantum computers become powerful enough, the encryption standards currently used across the globe are at risk of being broken.
Quantum-resistant encryption already exists, but most systems haven't upgraded yet. Quantum technology is still changing very rapidly. If a company upgrades now, it's highly likely that the chosen quantum-resistant standard will change, improve, or even be replaced. That means another upgrade, which is both costly and risky. The prevailing strategy now is to prepare, not rush. Companies are researching quantum-resistant solutions, testing them on a small scale, and designing systems that can be quickly upgraded when a real threat emerges.
