O'Leary: Bitcoin's Quantum Computing Hurdle Must Be Overcome for $1M Target
Kevin O'Leary, a Shark Tank star and Canadian investor, has set his sights on Bitcoin reaching a price target of $1 million. However, he believes that the cryptocurrency must first overcome one significant hurdle: quantum computing.
O'Leary made this statement during an appearance on The Rollup podcast at the Avalanche Summit in New York. He pointed out that advanced quantum machines could compromise the cryptographic safeguards that underpin the Bitcoin network, making it a major threat to its future.
According to O'Leary, institutions are unlikely to make Bitcoin a mainstream portfolio allocation until this issue is addressed convincingly. When asked about the possibility of Bitcoin reaching $1 million, he replied, 'It will if it can resolve the doubt creeping in around quantum computing.'