VanEck Raises Red Flags About Bitcoin’s Future as Quantum Threats Grow
VanEck, one of the world’s major asset management firms, is sounding the alarm on Bitcoin’s long-term safety. During an interview on CNBC’s Power Lunch, CEO Jan van Eck said the company may step away from Bitcoin if key technology problems aren’t fixed.
Van Eck said Bitcoin’s issues are not just about price swings. He pointed to deeper concerns:
- Weak spots in Bitcoin’s encryption
- The growing threat from quantum computers
- Bitcoin’s limited privacy compared to newer coins
He even mentioned Zcash as an example of a cryptocurrency that offers stronger privacy and advanced encryption—features some Bitcoin users are now paying closer attention to.
Van Eck made it clear:
“We will walk away from Bitcoin if we think the thesis is fundamentally broken.”
Why This Matters
Researchers and industry experts have been warning that quantum computers could one day break the cryptography that protects Bitcoin and many other blockchains. At a recent event in Argentina, Ethereum founder Vitalik Buterin said that current cryptographic systems based on elliptic curves will eventually fail as quantum computing improves.
Quantum specialist Scott Aaronson from the University of Texas suggested that a fully functional quantum computer capable of running the dangerous Shor’s algorithm could appear before the 2028 U.S. election. If that happens, attackers could potentially generate private keys from public keys—something that would be devastating for existing blockchains.
Industry Reactions
Not everyone agrees with VanEck’s concerns.
Samson Mow, CEO of JAN3 and a strong Bitcoin advocate, pushed back, saying Van Eck shouldn’t be speaking about Bitcoin’s technology and rejecting the idea that Bitcoiners are moving toward privacy coins like Zcash.
However, the market has already reacted. Zcash has seen recent price gains, partly driven by attention to privacy features and concerns about quantum resistance.
The Bigger Picture
All of this comes at a time when Bitcoin is already under pressure:
- The current bear market
- The effects of the halving cycle expected through 2026
- Growing discussions about quantum computing risks
- Comparisons to more private and more secure alternatives
The debate is getting louder:
Can Bitcoin survive the coming age of quantum computing?
Or will certain parts of its technology need to be rebuilt?
As these questions grow, crypto investors and industry leaders are watching closely. The answers could shape the future of Bitcoin—and the entire cryptocurrency market.
