Co-founder of Stacks: Quantum Threat May Already Limit Bitcoin Growth

Concerns about quantum computing may already be limiting Bitcoin's growth and deterring institutional investors from making large purchases. This was stated by Stacks co-founder Muneeb Ali in a podcast for Cointelegraph.

According to him, risk-averse investors might be postponing investments in the first cryptocurrency due to uncertainty about the network's ability to withstand future quantum attacks. To restore confidence, Ali believes developers need to present a convincing security update roadmap. "There is already a ceiling for Bitcoin's growth due to quantum concerns," he noted.

According to the Stacks co-founder, if developers do not make significant progress in preparing quantum-resistant protection by 2028, Bitcoin may enter a more risky period. Ali explained that implementing protocol changes usually takes years, and after an update, users will need time to transfer their assets to new addresses. This is why preparation cannot be delayed.

As a benchmark for transitioning to quantum-resistant security, he named 2030, citing recommendations from the U.S. National Institute of Standards and Technology (NIST). However, Ali suggested that the development of artificial intelligence might accelerate progress in creating quantum computers and bring this date closer to 2029.

He acknowledged that part of the Bitcoin community considers the quantum threat to be distant, and concerns about it exaggerated. However, in Ali's opinion, the lack of consensus on the urgency of the issue may undermine investor confidence.

Threat to the entire industry

Ali believes that a sufficiently powerful quantum computer is more likely to appear in a large research laboratory than with an unknown attacker. Companies like Google or Microsoft are unlikely to use such technologies to steal bitcoins due to potential legal consequences, he suggested.

Moreover, the problem is not limited to the first cryptocurrency: a successful quantum attack on Bitcoin could have consequences for the entire digital asset industry. According to Ali, if Bitcoin is hit, everything down the chain will suffer.

Previously, Galaxy Digital's head of research Alex Thorn stated that a consensus is forming among the crypto community regarding the inviolability of early Bitcoin coins, which are associated with Satoshi Nakamoto.