Blackrock, the world’s largest asset management company, Bitcoin $109,698.36 He shared up -to -date information that pointed to a significant risk. The company’s updated prospectus of the company’s Ishares Bitcoin Trust ETF (IBIT) draws attention to the threat of quantum computer that Bitcoin may face in the future. So why is this risk doing so much?
Quantum Computer and Bitcoin
Quantum computers have long been shown as risk elements in the crypto industry due to the potential to solve encryption methods that secure crypto currency networks theoretically. Although existing quantum computers have not developed at a level that can threaten Bitcoin, Blackrock points out that with the development of this technology in the future, Bitcoin’s security can be damaged.
The company’s prospectus states that mathematical or technological developments, especially digital calculation, algebraic geometry and quantum computers, are likely to make cryptography dysfunctional. If the said security vulnerability occurs, it is stated that malicious people can endanger the Bitcoin network or IBIT’s assets.
Due to the deficits in cryptography, it was reminded that some crypto assets were seized in the past and that the funds were lost in their funds. If Bitcoin encounters a similar security problem, it can cause difficult damage to users and investors.
Blackrock: “Bitcoin’s underlying cryptography may be defective or ineffective, or developments in the field of mathematics or technology, especially digital calculation, algebraic geometry and quantum computers may cause this cryptography to become dysfunctional.
It is stated that such a security weakness may affect not only Bitcoin, but also other crypto assets. It is stated that the decrease in general confidence in the source code or cryptography can reduce the demand for crypto assets.
Should we be afraid?
İshares Bitcoin Trust (IBIT) is now one of the largest stock market investment funds supported by Bitcoin of 70.1 billion dollars. In this kind of ETF files, exporters also have to talk about all risks, but also refers to the risk of quantum computer. In the first ETF application days, in the mid -2023, many experts who misinterpreted the details in the Risks section, as Blackrock said that Bitcoin was insecure. If quantum computers can eliminate encryption algorithms, this will threaten everything from the payment protocols on the Internet to your encrypted data. While talking about something that will risk everything from banking to database security of social media platforms, the only problem will not be related to your Bitcoin wallet special key.
Investors should know that although the risk section of ETF files is standard and has low possibilities, all possible risks in theory have found a place there.
Crypto currency and digital asset investments are reminded of closely monitoring technological developments and taking into account potential threats. This warning raises the necessity of taking precautions against the variable structure of the crypto ecosystem.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
