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BlackRock Issues Bitcoin Warning, Says BTC Source Code Could Be Rendered ‘Flawed or Ineffective’ by Quantum Computing
The biggest asset manager in the world has acknowledged the potential of a critical threat that could weigh on Bitcoin (BTC) in the future.
Quantum computers are considered by many to be a potential threat to Bitcoin due to their theoretical ability to, in the future, override the cryptographic schemes that secure blockchains. While quantum computers have not yet demonstrated an ability to come anywhere close to threatening Bitcoin, BlackRock says it, along with other technological advances, could render the flagship cryptocurrency “flawed and ineffective.” Moreover, because digital assets, including bitcoin, have been in existence for a short period of time and are continuing to develop, there may be additional risks in the future that are impossible to predict as of the date of this prospectus.”
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