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BlackRock signals theoretical quantum threats to the security of bitcoin

In a complex application, the asset manager warned that future advancements in quantum computing could undermine the security framework on which Bitcoin relies.

Should quantum technology develop far beyond its current state, it could render the cryptographic algorithms used in Bitcoin obsolete.

This could enable malicious actors to exploit security vulnerabilities, including gaining unauthorized access to wallets where bitcoins for the foundation or its investors are stored.

Although quantum computers are still evolving, BlackRock emphasized that the full potential of this technology remains uncertain.

However, the firm believes it is important to disclose any theoretical threats that could impact the performance or security of its cryptocurrency investment products.