Bitcoiners reject quantum computing, concerns weigh on price

Bitcoin supporters have minimized claims that concerns that quantum computing could pose a threat to the cryptocurrency sooner than expected are weighing on its price.

James Cech, principal analyst at Glassnode, said on Thursday’s X Post that linking Bitcoin’s price to concerns about quantum computing is “similar to blaming market manipulation on the red candles and blaming the drop in exchange balances on the green candles.”

Cech argued that while quantum computing may be “moving some capital away” from Bitcoin (BTC), Bitcoin’s poor price performance is driven much more by heavy selling by long-term holders.

“Bitcoin saw a sell-side from HODLers in 2025, which would have killed the previous bulls three times and then another,” Cech said.

TradFi worries about quantum threats

Quantum computing uses quantum bits (qubits) to process information in a fundamentally different way than traditional computers. Crypto developers have been debating whether it could pose a threat to some of the cryptographic techniques used to secure blockchains.

The topic has been discussed for several years, but has recently gained attention as some traditional financial executives have expressed concerns about how recent advances in quantum computing may affect Bitcoin’s long-term price performance.

Jefferies strategist Christopher Wood last week removed Bitcoin from his “greed and fear” model portfolio, citing concerns that new advances in quantum computing could undermine the long-term security of cryptocurrencies.

Bitcoin author Vijay Boyapati said: “There may be investment notes that pick up on that story, but I’m very skeptical that BTC price movements can be explained by QC (quantum computing).”

However, other Bitcoiners are convinced that it is the main catalyst for Bitcoin price movements. Nick Carter, a partner at Castle Island Ventures, said Wednesday that Bitcoin’s “mysterious” downturn is “quantum driven” and is “the only story that matters this year.”