Grayscale: Quantum Computing Not the Main Cause of Recent Bitcoin Price Decline

On May 5, Grayscale stated that while advanced quantum computing poses a long-term potential threat to traditional cryptography and supports all mainstream blockchains in accelerating quantum-resistant upgrades, it is not the primary driver of the recent decline in Bitcoin prices. Grayscale observed that in recent months, Bitcoin has shown a synchronized trend with the stock prices of publicly listed companies focused on quantum computing. If quantum computing breakthroughs were to exert substantial pressure on Bitcoin, the stock prices of quantum computing companies should rise, but the opposite has occurred. Furthermore, since October of last year, the decline in Bitcoin and quantum computing stocks mainly reflects the overall de-risking of growth assets triggered by market concerns over AI impacts. Although the correlation between Bitcoin and investor sentiment towards cutting-edge technology assets like quantum computing has increased recently, this has not altered its role as a store of value in diversified portfolios. Investors do not need to wait for blockchain to fully complete its quantum-resistant upgrades to gain relevant exposure.