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Strategy (formerly MicroStrategy) co-founder and executive chairman Michael Saylor said he does not believe quantum computing represents Bitcoin’s (BTC) greatest security threat at the moment, arguing that the broader cybersecurity community generally views any meaningful quantum-related risk as at least a decade away.
Speaking on Natalie Brunell’s Coin Stories podcast, Saylor said there is no consensus that a quantum threat is already materializing or likely to emerge in the near term. He added that major quantum capabilities would not catch the industry off guard, because global systems would be expected to coordinate software upgrades to quantum-resistant cryptography.
Saylor also suggested that Bitcoin’s more immediate risk comes from protocol changes pushed by “ambitious opportunists,” rather than from quantum computing. He argued that the rollout of changes would take time across nodes, hardware, wallets, and exchanges, and that the lack of a credible threat today is reflected in the absence of global consensus on how to respond.
Saylor downplayed the idea of Bitcoin facing an isolated vulnerability. He said major corporations, financial institutions, and governments worldwide rely on digital systems that would be exposed to the same kind of challenge in the event of a credible quantum breakthrough. He cited companies including Google, Microsoft, Apple, Coinbase, and BlackRock, along with governments and major banks, as parties that would confront the issue.
He also argued that the crypto security community is among the most sophisticated and would likely be among the first to perceive and react to a credible threat.
While Saylor characterized the quantum threat as distant, institutional capital appears to be pricing in uncertainty. Shark Tank investor Kevin O’Leary said institutions are capping their Bitcoin exposure due to concerns over quantum computing. Christopher Wood, Global Head of Equity Strategy at Jefferies, removed Bitcoin from his model portfolio for similar reasons.
Analysts including Willy Woo and Charles Edwards also argued that quantum-related uncertainty could be contributing to Bitcoin’s relative underperformance versus gold and weighing on its price.
Charles Edwards said investors are discounting Bitcoin’s fair value by 20% today, based on expectations around when “Q-Day” could occur. He added that the discount factor doubles every year without progress on quantum-proof measures.
As the debate continues, several industry participants are moving toward post-quantum readiness. Ethereum has incorporated post-quantum readiness into its planned 2026 protocol priorities update. Coinbase and Optimism are also planning post-quantum security enhancements.
On the Bitcoin side, developers have merged Bitcoin Improvement Proposal 360 (BIP 360) into the official BIP GitHub repository.
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