A Bitcoin development roadmap that addresses quantum computing risks could see the price surge by “double digits” very quickly, according to Charles Edwards.
Bitcoin developers need to swallow their pride and outline a clear plan to harden the blockchain against quantum computing attacks, according to Capriole Investments founder Charles Edwards. He says the day they finally bite the bullet, the price will respond very quickly.
“If the Bitcoin core team says in two or three months: ‘this is our roadmap, we’re gonna solve it in the next two years, these are the rough steps we’ll take,’ that would be amazing news,” Edwards tells Cointelegraph on Trade Secrets.
“I think that would discount a lot of the risk pretty much overnight,” Edwards says.
The question of whether Bitcoin developers should modify the network to make its cryptography quantum-resistant has sparked heated debate within the Bitcoin community, with some arguing that major changes could conflict with Bitcoin’s core ethos. Others claim quantum computers are many years away, and a rushed cure could be worse than the disease.
Edwards often highlights the risk of quantum computing to Bitcoin to his 132,800 X followers. The fear is that, one day, powerful enough quantum computers could break the cryptography that protects the Bitcoin network and potentially compromise Bitcoin wallets.
The uncertainty has impacted investor sentiment, and some analysts say it has contributed to the downfall in Bitcoin’s price. The world’s largest asset manager, BlackRock recently pointed to quantum computing as a potential long-term risk in materials for spot Bitcoin ETF investors.
However, Edwards says if Bitcoin developers outline a clear roadmap to address the quantum threat, as some other chains have already done, it could send Bitcoin’s price higher “very quickly.”
“Double digits probably,” Edwards predicts. He adds the quantum issue is “somewhat counterintuitively an upside catalyst potential,” because it is currently on the back burner and the Bitcoin Improvement Proposals (BIPs) to date are “not really” a genuine solution.
Edwards is no stranger to making high-conviction calls on Bitcoin. Based in Melbourne, Australia, he founded Capriole Investments in 2019, a hedge fund focused on Bitcoin and digital assets. The firm uses a combination of quantitative models, AI, and macroeconomic analysis to guide its investment strategy across crypto markets.
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A growing number of observers worry the risk could become more serious if Bitcoin developers fail to make the necessary changes to the network before 2030. Ethereum is due to complete it’s post quantum overhaul by 2029, which will shine a spotlight on Bitcoin’s own preparations.
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