Capriole Founder: If Bitcoin does not possess quantum resistance, its price may plummet

According to Cointelegraph, Charles Edwards, the founder of the quantitative Bitcoin and digital asset fund Capriole, warned that if Bitcoin does not achieve quantum resistance by 2028, its price could significantly drop below $50,000.

The potential threat of quantum computing to the crypto industry has long been a topic of debate and is seen as a critical turning point on the horizon. Theoretically, more advanced computers capable of breaking encryption could reveal user keys, exposing sensitive data and user funds to malicious actors. It is widely believed that this threat is still years away; however, Edwards predicts that this day could come as early as 2028, and if the industry does not act swiftly, the price of Bitcoin could plummet.

Critics argue that the threat posed by quantum computers is exaggerated, as this technology is still decades away from being viable, and banking giants and other traditional targets will likely be breached before Bitcoin.