BlackRock flags quantum computing risk in Bitcoin ETF filing

BlackRock has highlighted quantum computing as a potential risk to Bitcoin’s long-term security in its recent Bitcoin ETF filing. The inclusion marks a rare mention of quantum risk in mainstream finance.

Bitcoin has been trading strongly, recently surpassing $105,000 before a slight pullback to around $103,000.

Quantum computing could theoretically break the cryptography that protects Bitcoin wallets, but experts stress this threat remains decades away. Bitcoin developers have been preparing for quantum resistance with upgrades like Taproot, and emerging cryptographic alternatives are already under testing.

The risk disclosure by BlackRock mainly follows SEC filing requirements rather than signalling imminent danger.

Bitcoin’s price momentum remains robust after breaking key resistance levels near $97,700. However, technical indicators like the RSI suggest the asset is approaching overbought conditions, which might lead to a short-term correction.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!