The richest individual on the planet, Elon Musk, has a well-known enthusiasm for Bitcoin (BTC) and often shares his insightful views when the subject arises.
Thus, when Google sounded the alarm about how quantum computing might jeopardize Bitcoin’s security, Musk was quick to articulate his reactions.
Related: Elon Musk showers love on Bitcoin again after a long hiatus
Google highlights quantum risks to Bitcoin
Recently, Google issued a couple of warnings within a few days regarding significant issues.
First, Google’s experts predict that by 2029, quantum computers will possess the capability to breach the cryptographic protections securing cryptocurrencies like Bitcoin (BTC). In fact, malicious actors may start pilfering encrypted financial information now, with plans to decrypt it once quantum technologies advance by 2029.
In response, Google has advised a shift towards post-quantum cryptography (PQC) as a countermeasure against this impending threat.
Second, a quantum computer might be able to decrypt an active Bitcoin transaction in as little as nine minutes. This is how it could occur.
When a Bitcoin transaction occurs, the public key is visible temporarily. A sufficiently powerful quantum computer can leverage this public key to unveil the private key, allowing them to seize the cryptocurrency assets.
Bitcoin transactions typically complete in about 10 minutes; the study estimates the likelihood of a successful breach to be slightly below 41%.
The publication also indicated that as few as 500,000 qubits—much lower than previously estimated millions—could be sufficient to compromise Bitcoin’s encryption. This marks a significant decrease in the required number of qubits for such a breach.
Insights on Quantum Computing:
Elon Musk discusses the advantages of quantum threats
In light of the debate over Google’s quantum warnings, Elon Musk mentioned that there could be an upside to this situation.
“On the bright side, if you happen to forget your wallet’s password, it might become retrievable in the future,” he conveyed to his 237 million followers on X.
This suggests that the power of quantum computing might grow to such an extent that it could potentially recover lost passwords, leading to greater vulnerabilities for crypto wallets against quantum assaults.
Currently, Bitcoin’s trading price stands at $66,644.42, reflecting a 24% decline for the year.
Related: Elon Musk welcomes crypto veteran to X
This article was first published by TheStreet on March 31, 2026, and originally appeared in the Technology News category. You can add TheStreet as a Preferred Source by clicking here.