Elon Musk, the richest person on the planet, is expressing concerns regarding Bitcoin's security in light of potential threats from quantum technologies.
Probability of Bitcoin Hacking
Recently, Elon Musk asked the AI Grok about the probability of Bitcoin's SHA-256 encryption algorithm being cracked by quantum computing. According to the AI, the likelihood of this happening remains close to zero for the next five years.
Current Quantum Technologies
Musk's concerns were raised following IBM's announcement of their ambitious quantum-focused roadmap, including the development of the Blue Jay system capable of handling tasks with over one billion operations. Grok noted that expert estimates suggest a less than 10% chance of Bitcoin being hacked by 2035.
Bitcoin Holdings of Musk's Companies
Currently, Tesla holds 11,509 Bitcoins worth approximately $1.31 billion, while SpaceX holds around $850 million. Musk has also confirmed that he personally owns Bitcoin.
Elon Musk's discussions with AI Grok highlight significant concerns regarding Bitcoin's security in light of rapid advancements in quantum technology.
