Quantum computers could potentially pose a danger to Bitcoin's security, with BlackRock acknowledging this issue
In the ever-evolving world of technology, quantum computers have emerged as a potential game-changer. However, their impact on investment products, particularly the bitcoin price, remains a topic of discussion. BlackRock, a leading global investment manager, has acknowledged quantum technology as a potential risk for investment products. Yet, the company believes the likelihood of quantum computers posing problems for the bitcoin price is low. This viewpoint is shared by other tech giants, such as Microsoft and Google, who understand that a quantum computer capable of cracking cryptography could destabilize their own businesses. Tristan, the editor-in-chief at Blocktrainer.de, has been actively involved with Bitcoin since 2020. He highlights that if quantum computers could crack the central cryptographic protections, they would pose a threat not only to the bitcoin price but also to state institutions and companies like Google. Various actors in the Bitcoin community are taking steps to enable the use of cryptographic algorithms resistant to advanced quantum computers. Projects like QANplatform, Diamante, and individual Bitcoin developers are working on quantum-resistant cryptographic systems and protocols. For instance, Agustin Cruz proposed the quantum-resistant asset mapping protocol (QRAMP) in early 2025, while Jameson Lopp co-authored a Bitcoin Improvement Proposal (BIP) aiming to phase out vulnerable legacy signatures by 2030. However, these efforts are not without challenges. A hard fork (or multiple hard forks) may be required to implement quantum-resistant changes, and there is no guarantee that such consensus will be reached. Compromise of the Bitcoin network could lead to wallet hacks, loss of trust in the network, impairment of network functionality, and dampened demand for Bitcoin, potentially negatively impacting the value of shares. BlackRock has been addressing the quantum computer theme since an August 2024 prospectus, and the company submitted a document to the US Securities and Exchange Commission (SEC) on May 9, 2025, addressing the potential risk of quantum computers to the bitcoin price. Despite these concerns, it's important to note that the readiness of quantum technology to undermine the cryptographic algorithms behind the bitcoin price is currently far from being achieved, as clarified by Blocktrainer.de. The functionality of the Bitcoin network can adapt to circumstances if a quantum computer threat ever materializes, due to economic incentives to keep the bitcoin price secure. Tristan, a graduate economist with journalistic experience outside the Bitcoin space, emphasizes the importance of staying informed about such developments. The potential risks and responses to quantum computers highlight the dynamic and evolving nature of the Bitcoin ecosystem, underscoring the need for continuous innovation and adaptation.
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