Bitcoin advocate Michael Saylor has dismissed concerns about quantum computing compromising Bitcoin’s cryptographic security, characterizing the threat as manageable and exaggerated. The former MicroStrategy CEO emphasized that Bitcoin’s encryption foundations remain fundamentally robust against current technological capabilities.
Saylor contended that major technology corporations like Microsoft and Google possess substantial economic incentives to prevent the development of quantum computers capable of breaking mainstream cryptography. Such entities, he argues, would actively safeguard existing digital infrastructure to protect their commercial interests.
Blockchain developers are concurrently advancing preemptive solutions against potential quantum vulnerabilities, highlighted by initiatives like Project 11’s bounty program challenging researchers to breach Bitcoin’s Elliptic Curve Cryptography. Saylor instead flagged phishing scams as significantly more pressing hazards for cryptocurrency holders than theoretical quantum scenarios.
The perspective emerges amid broader sectoral concerns, following a 2024 World Economic Forum report identifying quantum computing as a severe global risk and advocating accelerated development of quantum-resistant cryptographic protocols by governments and industries.