Major institutional investors in Bitcoin are expressing impatience with developers for not promptly addressing security concerns related to quantum computing. Venture capitalist Nick Carter warned that without timely measures to protect Bitcoin from quantum threats, these institutions might replace current developers with new ones. He highlighted a slowdown in the Bitcoin development community’s activity, emphasizing the urgent need for attention to this critical issue. Carter specifically mentioned the possibility of a “corporate takeover,” whereby large companies could attempt to control the implementation of quantum-resistant cryptography if Bitcoin’s community fails to act. He cited BlackRock, the world’s largest asset manager holding approximately 761,801 Bitcoins valued near $50 billion, as an example of institutional investors whose significant holdings could pressure the ecosystem for immediate responses.
Austin Campbell, founder of Zero Knowledge Consulting, supported Carter’s concerns, suggesting that unresolved fundamental issues might prompt institutional intervention. Carter also noted that the quantum computing threat is a major factor contributing to Bitcoin’s price decline and could become the biggest financial challenge this year. However, some experts disagree. Ram Ahluwalia, founder of Limida Wealth Management, argued that large institutions are typically passive investors and unlikely to take an active role in the Bitcoin network, resulting in divided industry opinions on the urgency of quantum-related responses. Charles Edwards, founder of Capriole Investments, considers quantum computing an existential threat to Bitcoin and calls for immediate network upgrades to enhance security. Conversely, Christopher Bendiksen, research lead at CoinShares, believes only a small portion of Bitcoin is vulnerable to quantum attacks, making the threat less imminent than some fear. Well-known figures like Michael Saylor and Adam Back view the quantum risk as exaggerated, expecting its impact on the network to take decades. The debate over quantum computing’s implications for Bitcoin’s future security continues as the industry strives to develop appropriate strategies.
Source: binance
