Cryptocurrency analyst Willy Woo expressed concerns Wednesday over the perceived quantum risk affecting Bitcoin’s (CRYPTO: BTC) adoption.
Quantum Vulnerability Affecting Taproot Adoption?
In an X post, Woo pointed out a significant decline in Taproot adoption, from 42% to 20%, since 2024.
The Taproot upgrade, activated in November 2021, was meant to improve the privacy and efficiency of the network, particularly for complex multi-signature transactions.
However, Woo deemed the upgrade, one of the most significant in recent history, as “quantum vulnerable.”
Interestingly, Jameson Lopp, a well-known Bitcoin security expert, had also found Taproot addresses as susceptible to quantum attacks in March.
FUD Or Genuine Concern?
Woo challenged the narrative that quantum risk is 20 years away, stating that “perceived” risk is enough to stop adoption.
“What matters NOW is whether investors see risk and are selling,” the analyst added.
A section of X users, including cryptocurrency veteran Fred Krueger, accused Woo of spreading fear, uncertainty and doubt, stating that solutions will be implemented in due course.
See Also: Bitcoin’s Death Cross Looks Scary Until You Realize What Happened Last Time
Is Bitcoin Prepared For Quantum Challenges?
Woo’s arguments follow statements by influential figures in the cryptocurrency space downplaying the impact of quantum computing on Bitcoin.
Michael Saylor, Executive Chairman of Strategy Inc., said earlier this week that quantum computing would not weaken Bitcoin, but rather make it more resilient.
The Bitcoin bull argued that the network would undergo a quantum resistance upgrade, resulting in the migration of active BTC, while lost BTC would “stay frozen.”
Similarly, a report by digital asset management firm Grayscale suggested that quantum computing would not significantly impact cryptocurrency valuations in 2026. The report acknowledged a long-term risk to blockchain cryptography but deemed it unlikely to “meaningfully” influence the market.
Lopp estimated in October a “greater than 50% chance” that it will take at least another decade before a quantum computer, powerful enough to decode a Bitcoin public key to find its corresponding private key, becomes a reality.
Price Action: At the time of writing, BTC was exchanging hands at $86,440.93, down 0.50% in the last 24 hours, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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