Galaxy's Alex Thorn warns Bitcoin faces greater quantum risk by 2030

Galaxy Digital's Alex Thorn has raised alarms about the threat quantum computing poses to Bitcoin's (CRYPTO:BTC) security.

Thorn argues that the potential danger is more significant than many realise.

Quantum computing could break Bitcoin’s cryptographic security, especially its elliptic curve cryptography (ECC) and hash functions like SHA-256.

These systems could enable quantum computers to derive private keys from public keys, allowing unauthorised access.

While quantum-resistant cryptography is under development, Thorn cautioned that the solutions available so far are insufficient.

“Quantum is a bigger threat than people realize, and the options to fix it for Bitcoin specifically are worse than people realize,” he stated.

Thorn acknowledged that no one knows exactly when this threat will emerge, making it one of the most challenging questions in the field.

“It’s a ‘national security’ level question,” Thorn said, highlighting the urgency of the issue.

Some analysts believe that quantum computing could eventually lead to Bitcoin's decline.

Chirag Jetani, Founder of Diamante, warned that quantum computers are advancing quickly, with Google’s quantum computers now 241 million times faster than conventional ones.

“A quantum computer with just 4,000 qubits could crack Bitcoin’s encryption in 10 minutes. By 2030, they’ll crack Bitcoin’s encryption in seconds,” he predicted.

However, some experts remain hopeful about Bitcoin’s ability to survive the quantum threat.

Project 11, a quantum research firm, emphasised that Bitcoin can survive quantum advances through technological upgrades, such as post-quantum cryptography.

“BTC can absolutely survive quantum computing. It will be difficult, controversial, and debated, but the network can be upgraded in time,” the firm stated.

Despite the uncertainties, Bitcoin’s future depends on its ability to adapt to emerging quantum technologies.

At the time of reporting, the Bitcoin price was $94,346.75.

At the time of reporting, the Bitcoin price was $94,346.75.