Michael Saylor: The quantum threat to Bitcoin is merely a marketing gimmick and not to be feared.

Gate News bot news, Strategy CEO Michael Saylor downplayed concerns about the impact of Quantum Computing on Bitcoin, calling it a marketing strategy to promote Quantum Tokens.

"This is mainly a marketing tactic by those who want to sell you the next generation of quantum tokens," Saylor said in a recent interview on CNBC's "Squawk Box."

According to the quantum computing research company Project Eleven, 10 million Bitcoin addresses have exposed public keys. If these machines become powerful enough to crack Bitcoin's elliptic curve encryption (ECC) keys, over 6 million Bitcoin addresses could be at risk.

But Saylor stated that even if tech giants indeed bring the threat of Quantum Computing, they won't disclose it, as doing so could jeopardize their businesses and even the U.S. government. "Google and Microsoft will not sell you a computer that can crack modern encryption, as that would destroy Google, Microsoft, the U.S. government, and the banking system."

In addition, Saylor noted that if a real quantum computer does emerge and threaten Bitcoin's security, the protocol's core developers and hardware manufacturers will take steps to fix it, "Bitcoin network hardware upgrades, Bitcoin network software upgrades, just like Microsoft, Google, and the U.S. government." ”

Saylor added that people are 10,000 times more likely to lose Bitcoin due to phishing attacks than they are to lose Bitcoin due to quantum computing.

He stated: "Bitcoin is the hardest thing to hack in the universe; they would compromise your banking system, your Google account, your Microsoft account, and all other assets you possess much faster because their attack intensity is much weaker."

Source: Cointelegraph