As a researcher and practitioner focused on the forefront of financial technology, I am shocked by Google's recent release of the quantum computing chip Willow. This technology showcases a breakthrough in human computing power, and it has led me to profound reflections on its potential impact on cryptocurrencies, especially Bitcoin. After detailed analysis, I believe quantum computing may reshape the technical foundation of cryptocurrencies in the future, and the industry's ability to respond will determine whether Bitcoin can sustain its development. Here is my comprehensive analysis and conclusion.
What does the breakthrough of the quantum chip Willow mean?

In 2009, China was in the aftermath of the global financial crisis. Many enterprises were in trouble, but I knew that crises often breed opportunities. That year marked an important turning point in my journey to wealth—investing in a steel plant on the brink of bankruptcy.
Distressed enterprises: The bankruptcy crisis of the steel plant
This steel plant is located in North China, established in the 1990s, and was once the largest taxpayer in the area. With the sharp decline in steel prices due to the financial crisis, coupled with management mistakes, this steel plant has ceased operation for nearly six months. Banks and creditors continuously chased debts, while workers frequently petitioned for their overdue wages. This plant has turned from a local pillar enterprise into a headache for the government.

The following is only a personal opinion:
1. The Federal Reserve's two interest rate cuts (in September and November) have reduced the appeal of traditional assets, combined with rising inflation expectations, attracting more investors to shift their funds towards inflation-hedged assets like Bitcoin. Furthermore, potential policies from the new Trump administration, including a supportive stance towards Bitcoin (such as promoting related ETFs) and regulatory reforms, are injecting more confidence into the market.
2. The Bitcoin halving event in April 2024 further highlights its scarcity, and the consensus in the market is that the reduced supply will lead to price increases. Additionally, the increase in institutional investment, particularly through Bitcoin ETFs, has also driven market activity and price rises.

The following are merely personal views:
1. Trump's resurgence injects new uncertainty into the market. His policies are often controversial, whether regarding tax, trade, or corporate policies, bringing short-term volatility to the market. With Trump's victory in the election, he may accelerate the implementation of some policies more favorable to American businesses, such as tax cuts and deregulation, which may be a short-term positive for the stock market. However, in the long term, his nationalist tendencies may further exacerbate international confrontation risks.
Musk is undoubtedly one of the most influential entrepreneurs of the 21st century. From Tesla to SpaceX, and then to Twitter, he has evolved from a pure technological innovator to a cross-domain opinion leader. His support for cryptocurrencies is particularly notable—whether through tweets that directly influence prices or pushing Tesla to accept Bitcoin payments, his actions create short-term fluctuations in the market. However, from a macro perspective, Musk's layout reflects the direction of technological change: decentralization, green energy, and human extension. His actions may be seen as overly 'risky' by some traditional investors, but in my view, his keen capture of future trends is precisely the benchmark that contemporary entrepreneurs should aspire to.