Kevin O’Leary, chairman of O’Leary Ventures, says Bitcoin can reach $1 million provided it resolves doubts about quantum computing breaking its encryption. He believes the network’s encryption algorithms could be compromised if a sufficiently powerful quantum computer emerges. Approximately 6.04 million BTC, representing 30.2% of the existing supply, already have exposed public keys, making them prime targets. Bitcoin currently trades near $81,177, meaning a rise to $1 million would represent a gain of roughly 1,132%. Institutions are unwilling to allocate more than 3% to Bitcoin until this vulnerability is addressed, with some actors like strategist Christopher Wood already cutting their Bitcoin positions by 10% over the same concern.
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