Quantum Threat Looms: Bitcoin's Security at Risk

Tether CEO Paolo Ardoino has raised concerns about the potential impact of quantum computing on Bitcoin security. In a recent statement, Ardoino predicted that hackers could exploit this technology to steal Bitcoin from lost or abandoned wallets. Quantum computing, which leverages quantum mechanics to perform complex computations, could pose a significant threat to the cryptographic security of Bitcoin.

Ardoino believes that active crypto users will likely migrate their funds to quantum-resistant wallets, but those who have lost or abandoned their Bitcoin may not have the opportunity to do so. As a result, these Bitcoin could potentially be extracted and put back into circulation using quantum computing technology.

Ardoino also noted that even if such an event were to occur, it would not affect the overall supply of Bitcoin. With a fixed supply of 21 million coins, Bitcoin's scarcity remains its core value proposition. Ardoino emphasized that Bitcoin is the best asset in the world, highlighting its resilience and long-term potential.

At the time of writing, Bitcoin is trading at $96,108, with a fractional decrease in value over the past 24 hours. Despite the temporary dip, Bitcoin's market cap remains the largest among all cryptocurrencies, demonstrating its enduring dominance in the crypto market.