Capriole founder Charles Edwards warned that bitcoin could trade well below $50,000 if the network is not made quantum-resistant by 2028.
Why 2028 is the deadline
In an X post on Wednesday, Edwards said the industry may be underestimating how soon quantum computing could threaten current encryption.
He argued that sufficiently advanced machines could reveal user keys, exposing funds and sensitive data to attackers.
Edwards wrote:
“Starting to think we will just need a huge bear market to wash out the idiots who think the Quantum threat to Bitcoin is a joke, and to incentivize the maxis into taking action to upgrade the network.”
He added:
“If we haven’t deployed a fix by 2028, I expect Bitcoin will be sub $50K and continue to fall until it’s fixed.”
Edwards calls for a 2026 rollout
Edwards said a quantum “patch” needs to be deployed in 2026.
He warned that if it is not addressed soon, the market impact could be severe:
“We have to fix this next year, or bon voyage enjoy the biggest Bitcoin bear market in history. FTX will look like a cakewalk.”
Debate splits bitcoin commentators
Critics argue the quantum threat is overblown and still decades away, and that banks and other targets would be compromised before bitcoin.
Edwards countered that banks are already migrating to post-quantum encryption, and that fraudulent transactions in traditional finance can be reversed or blocked.
Bitcoin OG Willy Woo suggested last month that holding bitcoin in a SegWit wallet could help keep funds safe for around seven years.
Meanwhile, Michael Saylor has downplayed quantum concerns, calling them a marketing ploy to promote quantum-branded tokens.
