Quantum computer, Bitcoin security threat… Saylor “Upgrade is sufficiently manageable”

Quantum Computing Technology Known As A Potential Threat To Bitcoin (Source: Forbes)

Concerns are growing that Bitcoin's cryptographic security system could be threatened by quantum computers. BlackRock recently warned, "Quantum computers have the potential to break through existing cryptographic technology, posing a serious security threat to Bitcoin and the entire cryptocurrency ecosystem." This is attracting market interest as it means the cryptographic system, which underpins Bitcoin's scarcity and trust, could be neutralized.

In response, Michael Saylor, co-founder of MicroStrategy, dismissed such concerns in an interview with CNBC. He argued, "Bitcoin is a protocol undergoing software upgrades as needed, like Google or Microsoft, and quantum threats can be overcome through technical adjustments." He also questioned the practical possibility, stating, "Companies that actually sell quantum computers would not take on situations that threaten government, banking systems, and their own technology."

Preparations are underway among Bitcoin developers as well. Some have even proposed a hard fork to convert wallet addresses to a form with enhanced quantum security. However, Presto Research, in a separate report, assessed, "The cryptocurrency industry is not yet adequately prepared for the security threat of quantum computers," pointing out the lack of technical preparation before entering the quantum era.

The Bitcoin ecosystem is now facing a new challenge in the form of quantum threats, and the balance between technical flexibility and practical constraints is on trial.