According to Charles Edwards, CEO of Capriole Investments, Bitcoin’s price could rise 30% to 50% in a day if developers agree on a roadmap to protect the blockchain against quantum computers. The quantum threat is described as tangible within a typical two- to three-year investment horizon. Bitcoin was trading around $81,000 at the time of writing, down nearly 3% in 24 hours but up more than 4% from a month ago. Edwards also noted that interest rates remain a short-term headwind and that the recovery in Bitcoin’s hash rate suggests the cycle bottom may be in. Failure to address quantum security could leave the network increasingly exposed as technology advances.
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