Quantitative Bitcoin and digital asset fund Capriole says the price of Bitcoin could plummet if the network doesn’t develop resistance to quantum computing.
Charles Edwards, the founder of quantitative Bitcoin and digital asset fund Capriole, warns that Bitcoin could head well under $50,000 if it isn’t quantum-resistant by 2028.
Quantum computing’s potential threat to the crypto industry has long been debated and is considered an upcoming inflection point. More advanced computers that could break encryption have been theorized as having the capability to reveal user keys, expose sensitive data and user funds to bad actors.
The deadline is generally considered to be years away; however, in an X post on Wednesday, Edwards predicts it could be as soon as 2028, and if the industry doesn’t move fast enough, the price of Bitcoin (BTC) could plummet.
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