Bitcoin’s price soared on Monday due to an increase in crypto exchange volume, with a 3% daily green candle and a 10% weekly increase. BTC whale wallets experienced a surge in accumulation as President-elect Donald Trump confirmed on CNBC that his administration plans to establish a strategic Bitcoin reserve.
However, Google’s parent company, Alphabet Inc., is working on ultra-fast quantum computing, which could potentially disrupt the entire blockchain paradigm. If successful, it would likely impact Bitcoin’s massive market cap, currently valued at over $2 trillion. Google recently unveiled its new Willow quantum chip, which can solve complex problems much faster than traditional GPUs.
Despite this development, Bitcoin’s security remains robust, as it uses 256-bit public key encryption for passwords and transaction tracking. To crack this level of security through brute force would require an astronomical number of guesses and an immense amount of computing power, even if combined with other powerful servers.
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