As I have written about before, Bitcoin and similar digital currencies days are numbered with the increasing stability of quantum computers.

A renewed debate has started on exactly when quantum computers will be able to undermine the elliptic curve cryptography (ECC) and SHA-256 hashing algorithms that secure Bitcoin wallets and transactions. Some suggest may be just a few years while others believe we have several decades – but one thing is certain – the clock is ticking.

Scientists, financial analysts, and economists are watching quantum computing developments very closely as a quantum computing breakthrough would make crypto-currencies, NFTs, and other digital assets worthless overnight.

A nefarious organization/country with a quantum computer functional enough to crack even partial amounts of crypto currency might be able to steal billions in assets in hours or days – before anyone knows what is going on nor have any way to stop them. The effect would be nearly instantaneous drop to 0 for the value of any assets secured in this way.