Renowned Bitcoin analyst Willy Woo has raised concerns regarding the long-term viability of Bitcoin as a superior store of value compared to gold, citing the emerging threat of quantum computing. Woo argues that while Bitcoin currently outperforms gold in terms of portability and scarcity, its reliance on cryptographic security makes it vulnerable to future technological leaps. Specifically, quantum computers using Shor’s algorithm could potentially compromise the Elliptic Curve Cryptography (ECDSA) that secures Bitcoin wallets, allowing private keys to be derived from public addresses. In contrast, gold’s value is rooted in its physical and chemical properties, making it naturally immune to computational attacks. While the Bitcoin network could theoretically implement quantum-resistant upgrades through a soft fork, Woo suggests that the mere existence of this existential risk creates a psychological and technical hurdle that gold does not face. This perspective shifts the debate from Bitcoin’s current dominance back toward the timeless stability of physical assets in an era of rapid technological disruption.
Source: Willy Woo warns quantum risk is eroding Bitcoin’s edge over gold
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