Michael Saylor downplays quantum computing threat to Bitcoin

Planet Daily News: Strategy founder Michael Saylor recently downplayed the quantum computing threat to Bitcoin in a CNBC interview, believing that the Bitcoin protocol can address potential risks through software upgrades when the threat becomes imminent. He stated: "This is mainly a marketing tactic by those wanting to sell you the next quantum concept token. Google and Microsoft won't sell computers that can crack modern cryptography, as this would destroy Google and Microsoft—and also destroy the US government and banking system." Currently, multiple proposals are studying how 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 an improvement proposal (BIP) suggesting migrating wallet addresses to quantum-safe addresses through a hard fork. Saylor emphasized that the Bitcoin protocol upgrades annually, and greater security threats come from phishing attacks. Saylor concluded: "Bitcoin is a protocol; its software is upgraded every year." He also believes the biggest security threat to Bitcoin is network phishing. However, not everyone agrees with Saylor's perspective. A recent report from Presto Research indicates that the crypto industry is "completely unprepared" for the impending quantum threat. (CoinDesk)