Cybersecurity expert Justin Drake, who works at the Ethereum Foundation, warned Bitcoin owners of a serious threat in 2025. According to his estimates, a 51% attack on the Bitcoin blockchain could cost $10 billion and require 10 GW of power for mining. This is only 0.5% of Bitcoin's market capitalization ($2 trillion), making the network vulnerable. In the event of a successful attack, losses could reach $260 billion, including the collapse of Bitcoin ETFs, mining company stocks, and futures contracts.
Drake believes that the Bitcoin network has 'run its course' due to emission limitations (21 million $BTC ), which weakens security in the long term. He suggests transitioning to Proof-of-Stake or modifying Proof-of-Work, but predicts resistance from the crypto community. Some experts, such as James Check, disagree, emphasizing the economic incentives for miners and the development of energy sources that could support network stability.
This discussion highlights the growing risks for Bitcoin amid technological developments. Will a disaster be avoided? Stay tuned for news and subscribe to #MiningUpdates
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