BlackRock Raises Concerns: Quantum Computing Threatens Bitcoin Security

BlackRock has issued a warning regarding the potential security risks posed by quantum computing, specifically how it could disrupt the Bitcoin network’s cryptographic foundations. Their filing highlights that if quantum technology advances significantly, there’s a risk that the cryptographic methods securing the Bitcoin network will become ineffective. This could potentially allow malicious actors to compromise wallets, including those holding large institutional BTC funds, creating serious vulnerabilities.