Michael Saylor has a harsh response to quantum computers breaking encryption originally appeared on TheStreet.
Strategy (formerly MicroStrategy) executive chairman Michael Saylor is best known for turning his business intelligence company into the first and largest Bitcoin treasury.
Despite having the most Bitcoin to lose, Saylor isn’t worried about quantum attacks.
In a June 6 interview on CNBC’s Squawk Box, Saylor said that if quantum computers ever broke cryptographic security, they would “destroy Google…Microsoft…the U.S. government, and the banking system” long before stealing Bitcoin.
Bitcoin’s ledger is more secure than traditional databases, meaning quantum computing poses a bigger risk to legacy systems first.
What’s the solution?
Like any system, Bitcoin can be upgraded. Some parts are updated about every two weeks, and the network can be strengthened to defend against quantum attacks.
Similarly, the American Bankers Association (ABA) has long recognized the risks posed by quantum computing.
