O'Leary Sees Quantum Computing as Hurdle to Bitcoin's $1 Million Dream
Kevin O'Leary, a Canadian investor and Shark Tank star, has set his sights on a $1 million price target for Bitcoin. However, he believes that achieving this milestone will depend on the cryptocurrency's ability to withstand the threat of quantum computing.
O'Leary pointed out during an appearance on The Rollup podcast at the Avalanche Summit in New York that institutions are unlikely to make Bitcoin a mainstream portfolio allocation until the industry can convincingly address the threat posed by advanced quantum machines. These machines could potentially compromise the cryptographic safeguards that underpin the network, making it less secure.
In his view, resolving this issue is crucial for Bitcoin's future growth and adoption. 'It will if it can resolve the doubt creeping in around quantum computing,' O'Leary said when asked whether Bitcoin could reach a $1 million valuation.