Bitcoin Slips as Quantum Breakthrough by AT&T and D-Wave Shortens Q-Day Countdown

Bitcoin's price has fallen to $63,000 after a breakthrough by AT&T and D-Wave Quantum Inc. in quantum computing. The companies have integrated quantum annealing technology into their network optimization algorithms, allowing complex tasks to be completed in just 15 seconds.

This achievement has shortened the timeline for 'Q-Day', when legacy blockchain encryption could be compromised. Google researchers estimate that fewer than 500,000 physical qubits would be needed to break Bitcoin, a 20-fold reduction from their previous estimate.

Experts warn that cryptocurrencies like Bitcoin are vulnerable to quantum threats due to their decentralized nature. Quantum Xchange CEO Eddy Zervigon has described them as a 'canary in the coal mine' for the quantum threat.