Jan van Eck, chairman and managing director of VanEck, claims that quantum computers could threaten Bitcoin’s encryption and privacy. He added that for now, BTC is still a good investment.
VanEck is concerned about the future of Bitcoin
As the BTC price declines, narratives that suggest future problems for the Bitcoin network are returning in the media. The idea is that quantum computers may be able to decode blockchain networks.
There’s something else going on in the Bitcoin community that non-crypto people need to know about. The Bitcoin community is asking itself: Is there enough encryption in Bitcoin? Because quantum computers are coming
– said Jan van Eck on Saturday CNBC.
He added that his company is still investing in bitcoin for now.
VanEck is one of the world’s largest cryptocurrency asset managers and offers multiple bitcoin-based products, including an ETF that has raised over $1.2 billion from the market since its launch in early 2024.
Van Eck says many Bitcoin supporters are now looking at Zcash, a privacy-focused project. Some of them are probably already buying Zcash tokens, because their price has increased by over 1,300% in the last three months.
What did Van Eck say about the BTC price? He recommends buying BTC slowly today, but assuming that we are entering a bear market. He said bitcoin “certainly” should be in investors’ portfolios due to “major global liquidity reasons” and “onchain reality.”
Every cycle is different. It is obvious to everyone that Bitcoin has risen less in this cycle and that is why many people believe that it will fall less in the correction
– he added.
Today, 1 BTC costs USD 87,000.
Others are also afraid of quantum computers
Cryptographer and cyberpunk Adam Back is also wary of quantum computing, but as he said earlier this month, Bitcoin likely won’t face a serious threat from it for at least two to four decades.
Vitalik Buterin has a different opinion and believes that the problem will become real in a few years.
