Quantum Threat for Bitcoin? 'I Don’t Worry About It', Says Strategy's Michael Saylor
Michael Saylor, co-founder of Strategy, downplays the threat of quantum computing to Bitcoin, labeling concerns as overhyped. He argues that major tech companies like Microsoft and Google would not release quantum computers capable of breaking cryptography, as it would jeopardize their businesses. Despite advancements in quantum technology, Saylor believes practical applications remain limited and that any future threats will target more vulnerable systems than Bitcoin. He asserts that blockchain can be upgraded to counter quantum risks. Saylor identifies phishing scams as a more significant danger to Bitcoin holdings than quantum threats. He emphasizes that if quantum computers can break encryption, they will likely target banking systems and other accounts before Bitcoin. A 2024 World Economic Forum report, however, highlights quantum computing as a global risk that could disrupt current encryption methods. Strategy has amassed nearly $64 billion in Bitcoin since 2020, influencing other firms to adopt similar treasury models.
