Quantum Computing Breakthrough Poses Emerging Threat to Bitcoin Security

Research by Google reveals that cracking Bitcoin with quantum computers now requires fewer than 1 million qubits instead of 20 million, making the task feasible within days. This advancement raises significant concerns since Bitcoin's elliptic cryptography is based on mathematical principles similar to RSA, which could be compromised by quantum computing advancements. Currently, the leading quantum computers from IBM and Google have between 1121 and 53 qubits, indicating the threat remains theoretical but progressing rapidly. BlackRock's recent ETF application acknowledges that quantum computing poses a serious risk to cryptocurrencies.