A veteran Bitcoin investor has raised an alarm over quantum computing, calling it the cryptocurrency’s first “truly existential risk.” Charles Edwards of Capriole Investments stated the Bitcoin Core team is “fighting the last war” with outdated cryptographic defenses. The industry remains divided on the urgency, with figures like Michael Saylor suggesting the threat is over a decade away.
A growing debate over quantum computing’s threat to Bitcoin is highlighting a potential existential risk to the blockchain. Investor Charles Edwards warned this is being largely dismissed by the community despite its severity.
Edwards explained he is more concerned now than during past market crashes or exchange failures. He stated Bitcoin “does not stand a chance” against advanced quantum technology without significant adaptation.
CryptoQuant founder Ki Young Ju has also voiced concerns, suggesting a quantum-resistant upgrade may require freezing older Bitcoin addresses. He noted implementing such consensus changes has historically been challenging for the community.
Not all industry figures share this sense of immediate urgency. Jameson Lopp of Casa has said quantum computers do not pose a near-term risk to Bitcoin’s cryptography. Grayscale also downplayed short-term consequences in a recent report.
Michael Saylor recently minimized the concern during an interview. He said most cybersecurity experts believe any credible quantum threat remains more than a decade away. The discussion underscores a fundamental security debate within the cryptocurrency sector.
