The renowned Bitcoin (CRYPTO:BTC) advocate and co-founder of Strategy Inc. (NASDAQ:MSTR), Michael Saylor, stated in an interview with Bloomberg that quantum computing does not pose an imminent threat to the Bitcoin network. His statement comes in a context of growing concern about the future of cryptography in light of quantum advancements.
Big tech companies would be the most affected
When asked whether quantum computing could break Bitcoin's cryptographic systems, Saylor was blunt:
"I’m not worried," he replied. "Microsoft and Google are promoting their quantum projects, but they would never sell a quantum computer that could break cryptography: that would destroy their own companies."
According to the executive, the development of quantum computers powerful enough to compromise modern cryptography could materialize in the next 10 to 20 years. However, he claims that tech and banking companies like Microsoft Corp. (NASDAQ:MSFT), Google — owned by Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) — and JPMorgan Chase & Co. (NYSE:JPM) would be even more vulnerable than Bitcoin.
