Will Bitcoin Lose Out to Quantum Computing Advancements?

Jakarta, Pintu News – Jan van Eck, CEO of VanEck, recently expressed his concerns for the cryptographic security and privacy of Bitcoin (BTC) in an interview on CNBC’s Power Lunch.

He stated that the asset management firm might abandon Bitcoin if fundamental technology issues are not addressed. This marks a serious question about the future of Bitcoin amid the threat of quantum computing and a less robust privacy model.

Bitcoin Cryptography Concerns

Jan van Eck highlights that the issues facing Bitcoin are not just around price volatility. There are more profound technological weaknesses that need attention. According to him, Bitcoin’s cryptographic strength and its resistance to quantum computing attacks are important factors that VanEck is evaluating. This is a major concern because of the potential security risks that could arise in the future.

Van Eck’s comments reflect a wider discussion in the industry about the threat quantum computing poses to blockchain technology. Vitalik Buterin, co-founder of Ethereum (ETH), has also warned about quantum computing’s potential impact on current cryptographic standards. He stated that elliptic curves, which are the mathematical basis that secures Bitcoin and Ethereum, will face serious challenges.

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Privacy Alternatives and Solutions

In looking for alternatives, van Eck mentioned Zcash, a cryptocurrency that offers stronger privacy features than Bitcoin. This suggests that there is a trend among Bitcoin holders to switch to more privacy-secure alternatives. Zcash has seen its price rise in line with the increased attention to the privacy features it offers.

Additionally, Pranav Kanade, VanEck’s portfolio manager, suggests a dollar cost averaging strategy during bear markets to reduce risk. These suggestions show that despite the concerns, there are still strategies that can be employed to manage investments in the volatile crypto market.

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The Future of Bitcoin and Blockchain Technology

Scott Aaronson, professor at the University of Texas at Austin and quantum computing researcher, predicts that a fault-tolerant quantum computer capable of running Shor’s algorithm might appear before the 2028 US presidential election. This suggests that the threat to existing blockchains is very real and could happen in the near future.

On the other hand, Samson Mow, CEO of Bitcoin infrastructure firm JAN3, rejected van Eck’s statements. Mow argued that van Eck should not speak on behalf of Bitcoin and rejected the idea of Bitcoin supporters turning to privacy-focused alternatives like Zcash. This shows that there is a difference of opinion within the community on how best to deal with the threat.

Conclusion

This debate highlights the emerging question of whether Bitcoin’s architecture can withstand advances in quantum computing technology. These considerations are likely to influence market valuations as participants evaluate the long-term viability of this cryptocurrency. With varying views from experts and industry leaders, the future of Bitcoin looks set to continue to be a hot topic of discussion.

FAQ

What does Jan van Eck have to say about Bitcoin?

Jan van Eck, CEO of VanEck, expressed concerns about Bitcoin’s cryptographic security and privacy, as well as potential threats from quantum computing.

Why might VanEck abandon Bitcoin?

VanEck may abandon Bitcoin if fundamental technological issues relating to cryptographic security and privacy are not addressed soon.

What alternatives do Bitcoin holders consider according to Jan van Eck?

According to Jan van Eck, some Bitcoin holders are considering Zcash as an alternative because it offers stronger privacy features.

What does Vitalik Buterin have to say about the impact of quantum computing on cryptography?

Vitalik Buterin, the founder of Ethereum, warned that the elliptic curves that secure Bitcoin and Ethereum will face serious challenges from quantum computing.

When is a quantum computer capable of running Shor’s algorithm expected to appear?

According to Scott Aaronson, a quantum computer capable of running Shor’s algorithm might appear before the 2028 US presidential election.

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Reference

• Crypto News. VanEck CEO Warns About Bitcoin Encryption and Privacy. Accessed on November 25, 2025
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