Bitcoin News Today: Elon Musk Raises Quantum Threat Concerns Over Bitcoin Security Outlook

Recent statements by Elon Musk have reignited discussions around the long-term security of Bitcoin, particularly in light of advancements in quantum computing. During a public query to his AI chatbot Grok, Musk explored the potential risk that quantum machines might pose to Bitcoin’s cryptographic integrity. According to Grok’s response, Bitcoin remains secure against quantum threats in the immediate future, with the likelihood of its SHA-256 encryption being compromised remaining near zero for the next five years. The probability of such an event is projected to rise slightly by 2035, but is still estimated to stay below 10% [1].

Musk’s inquiry coincided with IBM’s announcement of a new quantum system, Blue Jay, which aims to deliver 2,000 global qubits by 2033. This system, with over a billion gate operations, is expected to significantly outperform current quantum computing capabilities and position IBM as a major player in the field by the early 2030s [1]. The development highlights the accelerating pace of quantum computing research, as competitors such as Google and Microsoft continue to advance their own platforms, including Willow and Majorana 1 [1].

At present, the majority of quantum computers operate with approximately 1,000 qubits—far below the millions of error-corrected qubits required to break Bitcoin’s cryptographic defenses [1]. However, the rapid development of the field has prompted experts to consider proactive measures. Grok suggested that stronger cryptographic algorithms, such as SHA-3 or SHA-512, could be implemented if necessary [1]. Meanwhile, Deloitte recently estimated that up to 25% of the current Bitcoin supply could be at risk from quantum attacks, a scenario that would require the adoption of post-quantum cryptographic standards [1].

Musk’s interest in this issue extends beyond theoretical concerns. Tesla currently holds 11,500 Bitcoins, valued at around $1.3 billion, while SpaceX is estimated to hold $850 million in the cryptocurrency. Musk personally owns Bitcoin as part of his investment portfolio. Given the scale of these holdings, his engagement with potential threats to Bitcoin’s security is not just speculative, but aligned with broader implications for the digital asset market [1].

His public inquiry reflects a broader trend among technology and business leaders who are increasingly aware of the intersection between quantum computing and blockchain security. As quantum capabilities evolve, the need for robust cryptographic innovations will become even more critical in preserving the integrity and trust in digital currencies [1].

Source: [1] [Elon Musk Poses Chilling Question—Can Quantum Computers Hack Bitcoin?](https://bitcoinist.com/elon-musk-poses-chilling-question-can-quantum-computers-hack-bitcoin/)