Bernstein: The Bitcoin market has already priced in quantum risk and does not pose a survival threat in the short term

Mars Finance reports that Bernstein stated that Bitcoin’s previous correction has partly reflected the market’s concerns about quantum computing risks, considering this threat “real but manageable,” and not an imminent systemic risk. Although research including Google indicates that future quantum computers could rapidly crack commonly used blockchain encryption algorithms under extreme conditions, progress in zero-knowledge proofs and quantum-resistant cryptography provides some hedge. Bernstein believes that Bitcoin developers still have about 3 to 5 years to advance the quantum-resistant upgrade path and mentioned the current BIP-360 proposal, which can reduce some quantum exposure risks through a soft fork. Additionally, institutional investors (including ETF issuers and corporate coin holders) are expected to play an active role in driving consensus for the upgrade. However, industry opinions point out that the main challenge of quantum-resistant upgrades lies in user migration and consensus formation, rather than the technical implementation itself.