Michael Saylor Pushes Back Against Quantum Fears Surrounding Bitcoin

Michael Saylor, executive chairman of Strategy and a prominent Bitcoin advocate, has dismissed concerns about quantum computing’s impact on Bitcoin. He described the warnings as a marketing tactic used by promoters of quantum tokens.

Saylor: Tech Giants Won’t Break Their Own Security

Saylor told CNBC that companies like Google and Microsoft are unlikely to support quantum computing developments that could break existing encryption methods, as doing so would compromise their own systems.

He stated in an interview:

It’s mainly marketing from people that want to sell you the next quantum yo-yo token. Google and Microsoft aren’t going to sell you a computer that cracks modern cryptography because it would destroy Google and Microsoft—and the U.S. government and the banking system.

Michael Saylor

Research Insights on Quantum Threats

Despite Saylor’s dismissal, there is research indicating potential vulnerabilities within the Bitcoin network. Project Eleven, a quantum computing research firm, found that around 10 million Bitcoin addresses have revealed their public keys. This exposure means that if quantum computers become sufficiently advanced, over six million bitcoins could be at risk because the machines might be able to crack the elliptic curve cryptography (ECC) that secures Bitcoin.

Top investment firm BlackRock has also identified quantum computing as a potential risk to cryptocurrencies. The company has warned that if quantum technology evolves to the point where it can break Bitcoin’s encryption, it could threaten the security of the network and users’ wallets, potentially leading to losses for investors.

Bitcoin’s Defense and Future Preparedness

Michael Saylor remains confident that the Bitcoin network can adapt quickly if quantum computers ever come close to breaking its encryption. He points out that updating the Bitcoin software would protect the network while also emphasizing that phishing scams currently pose a far greater risk to Bitcoin holders than quantum attacks.

Saylor also argues that Bitcoin is extremely secure compared to many other systems. He notes that financial institutions and major tech platforms like Google and Microsoft are far more likely to be hacked well before Bitcoin’s security is seriously challenged. According to him, Bitcoin is exceptionally robust in resisting attacks.

Meanwhile, efforts are already underway to guard Bitcoin against future quantum threats. BTQ, a startup company, is developing quantum-resistant hardware to protect crypto assets. Additionally, some developers in the Bitcoin community have proposed a major network upgrade. This would involve significant changes to the system’s code, shifting users’ funds to newer wallet formats that are built to resist attacks from advanced quantum computers.

However, there is concern the crypto industry is not fully prepared for the quantum threat. A report from Presto Research warned that the industry lacks readiness for future quantum computing risks. Supporting this concern, Google’s recent research shows that RSA encryption may be easier to break with quantum computers than experts previously thought.

Quantum AI researcher Craig Gidney released a report estimating that a quantum computer with one million qubits running for a week could crack 2048-bit RSA encryption. This revelation adds urgency to the need for stronger defenses.

Meanwhile, blockchain analyst Duchess, sharing her perspective on X, pointed out that the real concern with quantum computing lies in whether a quantum machine could crack a private key from a public one faster than the time it takes to confirm a transaction. If the decryption process takes longer than this confirmation window, the network remains relatively safe.

She also suggested that holders with funds in older, potentially vulnerable wallet types should consider moving their Bitcoin to newer, more secure address formats—such as p2pkh—and ensure they’ve safely backed up their private keys. This, she said, adds an extra layer of protection. The researcher added that the long-term solution lies in adopting cryptographic tools specifically designed to withstand quantum threats.