Bitcoin's Price Decline Not Linked to Quantum Computing Concerns, Says Developer

Bitcoin's recent price drop is not attributed to fears surrounding quantum computing, according to Bitcoin developer Matt Carallo. According to Cointelegraph, Carallo expressed his disagreement with the notion that Bitcoin's current valuation is significantly impacted by quantum risks during an appearance on the Unchained podcast with journalist Laura Shin. He argued that if quantum computing were truly a concern, Ethereum would be outperforming Bitcoin. However, Ether (ETH) has seen a 58% decline since a major crypto market crash in early October, currently trading at $1,957. Carallo's remarks come amid discussions among Bitcoin enthusiasts who suggest that apprehensions about quantum computing's impact on blockchain technology have contributed to Bitcoin's 46% drop from its October peak of $126,100 to its current trading value of $67,162, as reported by CoinMarketCap. Some Bitcoin users have criticized the blockchain's developers for not advancing quickly enough to make the network quantum-resistant, while the Ethereum Foundation has announced its commitment to long-term post-quantum readiness as part of its security strategy. Carallo acknowledged the long-term risks posed by quantum computing to Bitcoin but emphasized that market makers do not perceive it as an immediate threat. He suggested that the Bitcoin community might be seeking a scapegoat for the cryptocurrency's lackluster performance. Carallo proposed that Bitcoin's price decline is more likely due to its competition for capital against emerging technologies like artificial intelligence, which he described as a "massive new investment class" that demands substantial capital. Not all Bitcoin advocates share Carallo's perspective. Charles Edwards, founder of Capriole Investments, stated at Cointelegraph's LONGITUDE event on February 12 that the risk of quantum computing should be factored into Bitcoin's valuation until the network becomes quantum-resistant. Edwards emphasized the need to discount Bitcoin's value based on this risk until it is addressed. Meanwhile, entrepreneur Kevin O’Leary expressed in December that utilizing quantum computing to compromise Bitcoin may not be the most efficient use of resources, suggesting that the technology holds greater potential in fields like medical research. In May 2025, BlackRock, the world's largest asset manager, updated its registration statement for the iShares Bitcoin ETF (IBIT) to caution investors about the potential risks quantum computing poses to the integrity of the Bitcoin network.