Bernstein: The bitcoin market has priced in quantum risks, posing no existential threat in the short term

According to Odaily, Bernstein stated that Bitcoin's recent correction has to some extent reflected the market’s concerns over quantum computing risks, and considers this threat “real but manageable,” and not yet an imminent systemic risk. Although research—including from Google—indicates that future quantum computers could potentially break commonly used blockchain encryption algorithms rapidly under extreme circumstances, progress in zero-knowledge proofs and post-quantum cryptography has provided a certain level of hedging.

Bernstein believes that Bitcoin developers still have about 3 to 5 years to advance post-quantum upgrade paths, and mentioned the current BIP-360 proposal, which could reduce some quantum exposure risk through a soft fork. Additionally, institutional investors (including ETF issuers and corporate holders) are expected to play an active role in driving upgrade consensus. However, industry opinions point out that the main challenges of post-quantum upgrades lie in user migration and consensus formation, rather than the technical implementation itself. (Cointelegraph)