Quantum Computing Breakthrough: 13,000× Speed, Bitcoin at Risk
Google’s Willow quantum processor has achieved a verifiable quantum computing breakthrough, outperforming the Frontier supercomputer by 13,000× on an OTOC benchmark. This quantum computing advance, enabled by directed wave imaging and the “Quantum Echoes” algorithm, delivers consistent outputs that external teams can validate.
While still experimental, this quantum advantage could accelerate molecular simulations in drug discovery and materials science. Crucially for crypto traders, experts warn that powerful quantum machines may crack ECDSA-based digital signatures underpinning Bitcoin by 2030. Solana cofounder Anatoly Yakovenko estimates a 50% chance of ECDSA breach within the decade, prompting investors to explore post-quantum cryptography (PQC) standards like CRYSTALS-Dilithium.
Adopting PQC entails trade-offs — larger signatures, higher transaction fees and potential hard forks. Technology commentator Mental Outlaw notes current quantum computers can only break 22-bit keys, far below 2048- to 4096-bit encryption. The US SEC received a proposal in September outlining a roadmap to quantum-resistant encryption by 2035. Traders should monitor PQC upgrades and consider new address adoption to hedge long-term Bitcoin security risks.
Bearish
This news highlights a significant quantum computing breakthrough that directly threatens Bitcoin’s ECDSA-based security. In the short term, impact on Bitcoin’s price may be muted as current quantum machines cannot break standard encryption. However, growing uncertainty about future quantum attacks and the need for complex post-quantum cryptography upgrades — entailing larger signatures, higher fees and potential hard forks — may weigh on investor confidence. Over the long term, delays or challenges in adopting PQC standards could undermine network security perceptions, exerting downward pressure on Bitcoin’s market value.