Bitcoin and Quantum Computers: Michael Saylor's Unphased Take
Business magnate Michael Saylor dismisses potential risks of quantum computing to Bitcoin, expressing no concern about the technology.
In a laid-back chat with CNBC, Michael Saylor, the brains behind Strategy (ex-MicroStrategy), spilled his thoughts on the Quantum computer threat to Bitcoin's security. Contrary to the chorus of experts ringing alarm bells about superfast Quantum computers, Saylor remains unfazed. He asserts that these whiz-bang computers won't pose a significant threat for another 10-20 years.
"I'm chillin'," Saylor said, "Bitcoin is a flexible protocol, and the software gets updated yearly. The hardware's always gettin' an upgrade, too, and ain't nothin' that hackers can break it."
Saylor further mentioned that when the threat becomes imminent, they'll upgrade the Bitcoin software. It's worth noting that two essential Bitcoin network cryptographic algorithms, ECDSA and SHA-256, could crumble if Quantum computers advance rapidly, putting Bitcoin private keys at risk, potentially wiping out users' funds.
The Quantum computer race kicked off when Google's breakthrough quantum chip, Willow, sent shivers down the crypto community's spine in late 2024. In 2025, Microsoft unveiled its top-shelf quantum chip, dialing up the urgency for quantum-resistant solutions as proposed in BIP 360.
Saylor, however, believes that tech giants like Microsoft, IBM, and Google might take their time before releasing their Quantum supercomputers. He contends, "Google and Microsoft ain't gonna sell you a quantum computer that breaks modern cryptography because it'll tear 'em apart, U.S. government, and the banking system."
With Bitcoin's market cap at $2.3 trillion at the time of press, a potential Quantum attack could have a massive ripple effect, especially considering that institutions, including countries, control around 3.3 million BTC, worth over $350 billion.
Saylor's firm currently holds around 580k BTC, a cool $62 billion, meaning they control 2.7% of the total BTC supply. Despite the long-term threat, ongoing discussions serve as a compass for steering the Bitcoin network in the post-Quantum era.
- Despite the ongoing concern about Quantum computers posing a threat to Bitcoin, Michael Saylor, the founder of Strategy, remains unperturbed, suggesting that the Bitcoin software can be updated when the threat becomes imminent.
- The crypto market is closely watching the race between technology giants such as Google, Microsoft, and IBM, who are developing Quantum computers, as their advancements could potentially impact the security of Bitcoin's private keys.
- Ethereum, another significant player in the crypto market, isn't immune to the Quantum threat, as two essential Bitcoin network cryptographic algorithms, ECDSA and SHA-256, are also used in Ethereum's network.
- As the crypto market continues to evolve, discussions surrounding quantum-resistant solutions like BIP 360 are gaining traction, reflecting an awareness and proactive approach to ensure the security of digital assets in the face of Quantum technology.
