Quantum Computing Won’t Break Bitcoin, Says Michael Saylor

In Brief

• Saylor believes Bitcoin will adapt to quantum computing upgrades.
• Active coins migrate while lost coins remain frozen, enhancing security.
• Experts remain divided on quantum computing’s potential impact on Bitcoin.

Michael Saylor, executive chairman of Strategy, has dismissed concerns about quantum computing’s potential to harm Bitcoin. 

He believes that Bitcoin’s network will strengthen rather than weaken when quantum computers evolve. According to Saylor, Bitcoin will adapt through protocol upgrades to secure the network and protect active coins. 

Coins that are lost or abandoned will remain frozen, reducing the circulating supply. Saylor emphasizes that these changes will increase security and enhance Bitcoin’s value over time. 

He argues that a quantum-resistant upgrade will ensure the system remains robust against future technological advancements.

Experts Divided on Quantum Computing’s Impact on Bitcoin

While Saylor remains optimistic about Bitcoin’s future, other analysts have raised concerns. Charles Edwards, founder of Capriole Investments, warns that quantum computing could negatively impact Bitcoin if no solution is found. 

He suggests that without a timely fix, Bitcoin’s market could experience a significant downturn. However, Saylor’s viewpoint is that these upgrades would not only safeguard Bitcoin but also reduce the supply of coins. 

Bitcoin supporters have long noted that lost coins, including those belonging to Satoshi Nakamoto, effectively lower the total supply. This reduction in supply, combined with higher security, could make Bitcoin more valuable.

As Bitcoin continues to grow in value and adoption, the community remains divided on the quantum computing issue. 

While some experts see it as a potential risk, others view it as an opportunity for Bitcoin to evolve. Whether the technology will be able to adapt before quantum computing poses a real threat remains to be seen.