Opinion: Bitcoin Could Rise to $1 Million If Quantum Computing Risks Are Addressed
1 hours ago
Star investor Kevin O’Leary has stated that Bitcoin could eventually surge to $1 million if the crypto industry resolves security risks posed by quantum computing. In an interview with The Rollup, O’Leary pointed out that quantum computers may crack Bitcoin’s underlying encryption algorithms and digital signatures in the future—a risk that must be addressed, otherwise institutional investors may still view Bitcoin as a non-core asset. He noted that resolving market concerns over "Q-Day" is one of the prerequisites for Bitcoin to hit $1 million. O’Leary has also reversed his earlier bullish stance on Bitcoin and Ethereum. He previously believed that the two would capture most of the crypto industry’s market volatility, but now he no longer considers Ethereum to be the industry’s ultimate standard, citing its insufficient speed and security. Currently, he is betting that different sectors will eventually adopt distinct blockchains as infrastructure for asset tokenization. In the AI field, O’Leary is investing in power infrastructure supporting AI rather than specific AI models. He explained that AI development is inseparable from power, and he has already invested in power projects and uranium assets, wagering on small modular nuclear reactors to power U.S. data centers in the future. O’Leary also predicted that the Clarity Act will struggle to advance before the U.S. midterm elections, and Congress may reintroduce a bipartisan crypto market regulatory bill after the midterms.
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