Venture capitalist Nic Carter has issued a stark warning to the Bitcoin community: address quantum computing risks quickly, or risk institutional investors turning against the network's developers.
Speaking at a recent industry event, Carter highlighted the growing concern among institutional Bitcoin holders about the long-term security of the cryptocurrency against quantum computing threats. He suggested that if developers fail to make progress on quantum-resistant cryptography, major financial institutions could "get fed up" and withdraw their support.
"The institutional class that has now embraced Bitcoin has a very different set of expectations than the cypherpunk originalists," Carter explained. "They expect professional management of existential risks, and quantum computing is now firmly on that list."
The warning comes as quantum computing technology continues to advance rapidly. While current quantum computers lack the processing power to break Bitcoin's cryptographic algorithms, experts estimate that this threshold could be reached within the next decade.
Bitcoin's current security model relies on elliptic curve cryptography, which is vulnerable to quantum attacks. While the community has discussed implementing post-quantum cryptographic standards, progress has been slow due to concerns about backwards compatibility and the need for broad consensus.
Carter's comments highlight a growing tension between Bitcoin's decentralized governance model and the expectations of institutional investors who have poured billions into the asset through spot ETFs and corporate treasuries. Some fear that institutional pressure could lead to a "corporate takeover" of Bitcoin development priorities.
The Bitcoin development community has been researching quantum-resistant upgrade paths, but any major protocol change would require significant coordination across the network's miners, node operators, and users.