IonQ CEO Predicts Quantum Computers Could Break Bitcoin's Encryption by 2028
IonQ’s CEO Niccolo de Masi stated that quantum computers could break the elliptic-curve encryption used in Bitcoin as early as 2028, with a machine capable of doing so within under 26 days. This timeline is significantly shorter than previous estimates and reflects rapid advancements in qubit capabilities over the past decade. De Masi emphasized during an interview on CNBC that while this capability isn't yet available today, it's becoming increasingly feasible as quantum computing progresses. IonQ itself has accelerated its roadmap to reach 10,000 qubits by 2027 and is already commissioning smaller-scale systems in the same year. Despite sounding an alarm about potential threats from quantum computing, IonQ also offers solutions like ClavisXG Multiplex for securing fiber networks. Meanwhile, Bitcoin's price has risen sharply recently, with companies such as MicroStrategy continuing to invest heavily despite concerns over future encryption vulnerabilities.
Topics: Bitcoin encryption Q-Day quantum computing