Will the price of Bitcoin BTC drop to 0 in the event of a quantum breakthrough?
At the current rate, quantum computing is still at least 5 to 10 years away from breaking Bitcoin's encryption.
Recent developments in quantum computing have raised concerns among BTC investors, increasing fears of a market collapse. But will a quantum leap in quantum computing really cause the price of Bitcoin to drop to zero?
By mid-2025, the most realistic forecasts for the quantum threat remain 2030-2035. By that time, we may see a wave of specialized devices, cloud services, and new layers of operating systems. However, if a sudden quantum breakthrough occurs, BTC addresses using outdated encryption methods will become immediately vulnerable. This includes, for example, the dormant Satoshi Nakamoto wallet, which contains nearly 1.1 million Bitcoins.
Since 25% of all BTC coins are held in reused addresses, this would leave billions of USDT at risk.
In the short term, this scenario would lead to a frenzied sell-off. Severe panic could cause the price of Bitcoin to drop by 30% to 50% within a few days.
However, this does not necessarily mean expecting a price close to zero for BTC as developers are likely to react quickly by upgrading the network to quantum-resistant encryption standards.
#SouthKoreaCryptoPolicy
At the current rate, quantum computing is still at least 5 to 10 years away from breaking Bitcoin's encryption.
Recent developments in quantum computing have raised concerns among BTC investors, increasing fears of a market collapse. But will a quantum leap in quantum computing really cause the price of Bitcoin to drop to zero?
By mid-2025, the most realistic forecasts for the quantum threat remain 2030-2035. By that time, we may see a wave of specialized devices, cloud services, and new layers of operating systems. However, if a sudden quantum breakthrough occurs, BTC addresses using outdated encryption methods will become immediately vulnerable. This includes, for example, the dormant Satoshi Nakamoto wallet, which contains nearly 1.1 million Bitcoins.
Since 25% of all BTC coins are held in reused addresses, this would leave billions of USDT at risk.
In the short term, this scenario would lead to a frenzied sell-off. Severe panic could cause the price of Bitcoin to drop by 30% to 50% within a few days.
However, this does not necessarily mean expecting a price close to zero for BTC as developers are likely to react quickly by upgrading the network to quantum-resistant encryption standards.
#SouthKoreaCryptoPolicy