Musk-Backed Quantum Theory Fuels Hopes for Bitcoin Security

Elon Musk has endorsed a physics theory that suggests quantum computers may be limited to around 400 qubits, sparking hope among Bitcoin traders that the network's security could be stronger than previously thought.

The theory, put forth by Oxford physicist Tim Palmer, proposes a discrete-universe structure that would cap usable qubits at around 200-400. This is significant because current estimates suggest that an attacker would need approximately 835 logical qubits to break Bitcoin's signature curve.

Musk's endorsement of the theory was made without mentioning Bitcoin specifically, but investor Fred Krueger quickly picked up on it and argued that Bitcoin may already be quantum-safe due to its relatively low attack threshold.

Meanwhile, IBM is targeting 200 logical qubits by 2029 with its Starling system, which would still fall short of the estimated 835 needed to break Bitcoin's signature curve. Researchers are also working on developing quantum-resistant transactions, with StarkWare recently testing one on mainnet without a soft fork.