Concerns over the potential impact of quantum computing on Bitcoin's security have reached top financial leaders, with UBS CEO Sergio Ermotti highlighting the issue at the World Economic Forum. Ermotti joins figures like Ray Dalio and Christopher Wood in expressing worries about quantum computers' ability to break Bitcoin's encryption, potentially endangering up to $900 billion worth of the cryptocurrency. Crypto venture capitalist Nic Carter has been vocal about the need for urgent action, investing $20 million in a startup addressing this threat. Despite differing opinions on the timeline for quantum computers to become a real threat, the lack of urgency from Bitcoin developers has frustrated some in the financial community. Carter warns that without significant action, institutional investors may quietly reduce their Bitcoin holdings, impacting its market value.
Quantum Computing Threat to Bitcoin Raises Alarm Among Financial Leaders
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