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Crypto Biz: Bitcoin’s quantum threat is becoming an economic problem
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Bitcoin faces mounting quantum security concerns as Ripple secures a US banking charter, USDC gains ground in Europe and VanEck adds BTC to a new ETF.
Key facts
- The VanEck Wealth Builder ETF (NYSE: WBMO), announced Tuesday, invests in a mix of VanEck and third-party ETFs and targets a 2% Bitcoin allocation, which can range from 1% to 5%
- According to a new report from Kaiko, USDC now accounts for 56% of euro-denominated stablecoin trading, up from 10% in January 2024
- Muneeb Ali, founder of Bitcoin layer-2 project Stacks, believes quantum computing risks are already discouraging institutional investment, even as US spot Bitcoin ETFs have amassed more than $104
- David Schassler, VanEck’s head of multi-asset solutions, said the traditional 60/40 stock-and-bond portfolio was designed for a different investment environment
Summary
The debate over quantum computing has raised serious questions about Bitcoin’s long-term security, but the economic consequences could emerge long before the technology seriously threatens the network. Muneeb Ali, founder of Bitcoin layer-2 project Stacks, believes quantum computing risks are already discouraging institutional investment, even as US spot Bitcoin ETFs have amassed more than $104 billion in net assets, according to BitBo data. For institutional investors drawn to Bitcoin as a hedge against currency debasement, doubts about its long-term security could complicate the investment case. This week’s Crypto Biz explores the quantum threat, alongside new developments surrounding Ripple, VanEck and European stablecoin adoption.