Bitcoin and cryptocurrencies have seen a huge resurgence over the last year following the brutal so-called crypto winter that began in 2018.
The bitcoin price has this year climbed to never-before-seen highs, topping $60,000 per bitcoin before falling back slightly. Other smaller cryptocurrencies have risen at an even faster clip than bitcoin, with many making percentage gains into the thousands.
Now, as bitcoin and cryptocurrencies begin to carve out a place among traditional assets in investor portfolios, technologists have warned that advances in quantum computing could mean the encryption that underpins bitcoin is “fundamentally” undermined as soon as 2026—unless the software is updated.
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