Bitcoin and Quantum Threat, Analyst Reveals Timeline to Act - Coinspeaker

Key Notes

• Quantum computing threat to Bitcoin seems closer than many analysts think.
• Charles Edwards has advised developers and lovers of Bitcoin to act fast in guarding against this threat.
• He believes that quantum computing would be a major setback for Bitcoin’s $1 million price target.

Although many entities have said that quantum computing may not be able to break Bitcoin

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cryptography soon, Charles Edwards, a crypto analyst, thinks the time to act to prevent this is closer. In his X post, he advised that a solution be found to the quantum computing threat by next year, especially if proponents “actually care about Bitcoin.”

Need to Stop Downplaying Quantum Computing Threat

In the last few months, there have been several conversations about quantum computers’ capacity to break Bitcoin’s ECDSA signatures through the Shor algorithm.

On Oct. 9, Charles Edwards urged developers and key players to take immediate action on the upgrades for quantum computing that are likely to impact Bitcoin.

He believes that there is no better time to put an end to the threat than in 2026. The analyst pointed out how some large Bitcoin holders have downplayed the potential threat of the quantum-resistant upgrades.

Some of them have even said that quantum risk is “10+ years out.”

However, in Edwards’ opinion, these entities are making such statements to enable short-term BTC price pumps. A day before, the analyst emphasized that Bitcoin price would eventually not reach $1 million, as projected by many, if no solution is provided to the quantum computing threat.

Quantum Computing Disruption Is Closer Than Anticipated

Meanwhile, Craig Gidney, a Quantum AI researcher at Google, is one of those who have consistently warned that Bitcoin’s encryption is at risk. He pointed at the rapid advancements in quantum computing, noting that it is only a matter of time before the unspeakable happens.

Gidney revealed that breaking RSA encryption now requires 20 times fewer quantum resources than was previously estimated, which is another reason why caution should be taken. “I estimate that a 2048-bit RSA integer could be factored in under a week by a quantum computer with fewer than one million noisy qubits,” Gidney wrote.

Related article: Arthur Hayes: Bitcoin 4-Year Cycle Is Now DeadIn one of his papers from 2019, the quantum AI researcher had estimated that achieving such a breakthrough would require 20 million qubits and eight hours of computation. However, his recent estimate shows a significant revision.

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