‘Quantum Computer Hacking’ Fears Fuel Bitcoin Sell-Off, Expert Dismisses as Premature

▲ Quantum computer, Bitcoin/ChatGPT-generated image ©

It has been revealed that behind the recent wave of selling that swept across the Bitcoin (BTC) market was a disturbing rumor claiming that quantum computers could hack the Bitcoin network. Panicked investors joined the sell-off, but experts dismissed the likelihood of such a scenario materializing in the near future and urged investors to respond calmly.

According to investment outlet The Motley Fool on February 12 (local time), when Bitcoin prices plunged on the 5th, an unfounded rumor spread through the market that quantum computers would break cryptocurrency security and steal massive amounts of coins. Although Bitcoin’s nearly 17% drop between February 4 and 6 was the result of a combination of unpredictable deleveraging, forced liquidations, and spot ETF outflows, the “quantum computer hacking” theory that emerged amid extreme market anxiety further fueled fear and accelerated the sell-off.

In particular, misinformation circulated online suggesting that approximately $9 billion worth of large-scale selling was linked to fears of quantum computer hacking, adding to the confusion. However, the sale was later confirmed to be a simple asset disposal, and experts agree that with the current level of quantum computing technology, it is impossible to decrypt Bitcoin’s digital signatures or impact its mining process. Existing quantum computers remain in their early stages and are rarely found outside government agencies or major tech company laboratories.

From a long-term perspective, however, some point out that quantum computers could pose an existential threat to Bitcoin. If the blockchain is not upgraded to quantum-resistant cryptography in the coming years, the emergence of highly advanced quantum computers could potentially compromise security. The Bitcoin development community still faces the task of reaching consensus and establishing appropriate defensive measures in preparation for this possibility.

Experts advised investors not to be swept up in fear and hastily press the sell button. While the threat of quantum computing should be regarded as a tail risk—an event with a low probability but significant impact—and included in long-term risk management plans, it should not be used to justify immediate market volatility. Ultimately, investors are urged to maintain confidence that Bitcoin developers will introduce technological solutions to counter quantum threats and to adopt a rational investment stance that is not shaken by rumors.

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