Bitcoin's Resilience Against Quantum Computing Threats Discussed by Michael Saylor

According to PANews, Michael Saylor, founder of Strategy, recently addressed concerns about quantum computing's potential threat to Bitcoin during an interview with CNBC. Saylor downplayed the risks, suggesting that Bitcoin's protocol could be updated through software upgrades to counter any imminent threats. He remarked that the notion of quantum computing as a threat is largely a marketing tactic by those promoting new quantum concept tokens. Saylor emphasized that major companies like Google and Microsoft would not sell computers capable of breaking modern encryption, as it would be detrimental to their interests, as well as to the U.S. government and banking systems. Various solutions are being explored to make Bitcoin's proof-of-work (PoW) resistant to quantum attacks, including quantum-resistant encryption hardware developed by startups like BTQ. A Bitcoin developer has submitted a Bitcoin Improvement Proposal (BIP) suggesting a hard fork to migrate wallet addresses to quantum-secure addresses. Saylor highlighted that the Bitcoin protocol undergoes annual upgrades, with phishing attacks posing a more significant security threat. He concluded that Bitcoin is a protocol with software that is updated yearly. However, not everyone agrees with Saylor's perspective. A recent report by Presto Research indicated that the crypto industry is "unprepared" for the impending quantum threat.