Bitcoiners are largely dismissing fears that quantum computing advancements are the primary cause of the recent price slump, despite some institutional concerns. While a debate simmers within the crypto community and some financial strategists point to quantum computing as an existential threat, many developers and Bitcoin proponents argue that these fears are overblown and that the network has ample time to adapt.
The price of Bitcoin has experienced volatility, leading to discussions about the factors influencing these fluctuations. Recently, global factors such as tariff tensions between the U.S. and EU and monetary policy shifts by the Bank of Japan have been cited as triggers for a sharp decline.
Christopher Wood, global head of equity strategy at Jefferies, recently removed Bitcoin from his recommended portfolio, citing concerns that quantum computing could break Bitcoin's Elliptic Curve Digital Signature Algorithm (ECDSA) keys. This decision reflects a growing discussion among institutional investors about the long-term technological resilience of digital assets. UBS CEO Sergio Ermotti has also voiced concerns about the potential impact of quantum computing on the safety of cryptocurrencies.
However, many in the Bitcoin community remain unconvinced. They argue that current quantum computing capabilities are not yet powerful enough to break Bitcoin's SHA-256 hashing algorithm. Furthermore, they highlight that progress in quantum computing is gradual and transparent, providing developers with sufficient warning to upgrade algorithms. Marcus Tan, a lead developer for a Bitcoin scalability protocol, stated that framing quantum computing as insurmountable is misleading, noting that several Bitcoin Improvement Proposals (BIPs) related to post-quantum signatures are under discussion.
The debate highlights the challenges of upgrading a decentralized network like Bitcoin. Unlike traditional systems, Bitcoin requires broad consensus to implement changes. Alex Pruden, CEO and Co-Founder, noted that fundamentally different views within the community could lead to a fork in Bitcoin.
Despite the disagreement, the technical consensus suggests that quantum computers are at least a decade away from posing a significant threat to Bitcoin's security. Experts believe that Bitcoin developers have time to implement quantum-resistant upgrades before that threshold is reached.
Still, some researchers estimate that a substantial portion of the Bitcoin supply could be vulnerable to quantum attacks due to reused public keys. A 2025 Chaincode Labs study estimated that 20-50% of circulating Bitcoin addresses are at risk, potentially exposing hundreds of billions of dollars worth of Bitcoin. Coinbase researchers have identified approximately 6.5 million BTC held in older wallet formats, making them susceptible to long-range quantum attacks.
Some analysts believe that failing to develop quantum resistance could lead to a significant price drop. Charles Edwards, founder of Capriole, warned that Bitcoin could fall below $50,000 if the network does not implement a solution by 2028 and emphasized the urgency of deploying a patch.
While the Bitcoin community remains divided on the immediacy of the quantum computing threat, the discussion has prompted increased awareness and research into potential solutions. The development of post-quantum cryptography is advancing, and the Bitcoin network has a history of adapting to emerging threats. For now, most Bitcoiners appear to believe that more immediate risks, such as regulation, macroeconomic conditions, and adoption challenges, pose a greater threat to Bitcoin's price than quantum computers.
