Michael Saylor: The Bitcoin protocol can address potential risks from quantum computing threats through software upgrades.

According to Techub News and CoinDesk, Michael Saylor, the founder of Strategy, recently downplayed the threat of Quantum Computing to Bitcoin in an interview, believing that when the threat becomes imminent, the Bitcoin protocol can respond to potential risks through software upgrades. He stated, “This is mainly a marketing tactic by those who want to sell you the next quantum concept Token. Google and Microsoft will not sell computers that can break modern encryption because it would destroy Google and Microsoft - it would also destroy the U.S. government and banking system.”

Currently, there are multiple proposals researching how to make Bitcoin’s proof of work (PoW) resistant to quantum attacks, including quantum encryption hardware developed by startups such as BTQ. A Bitcoin developer has submitted an improvement proposal (BIP) suggesting migrating wallet addresses to quantum-safe addresses via a hard fork. Saylor emphasized that the Bitcoin protocol is upgraded annually, and the greater security threat comes from phishing attacks. However, not everyone agrees with Saylor’s viewpoint. A recent report from Presto Research stated that the cryptocurrency industry is “ill-prepared” for the impending quantum threat.