President Donald Trump of the United States promised during his campaign to establish a strategic reserve of Bitcoin held by the U.S. government. However, breakthroughs in quantum computing technology make the fate of cryptocurrencies like Bitcoin seem uncertain. The Wall Street Journal reported on the 23rd that some are concerned that the continued development of quantum computing could allow hackers to break the encryption technology that secures Bitcoin, thereby stealing it. The report cites researchers who say that quantum computing devices capable of breaking Bitcoin's encryption could take ten years or longer to develop, but the advancement of quantum computing poses a long-term risk to Bitcoin unless developers upgrade the encryption technology. However, cryptocurrency professionals believe that upgrading Bitcoin's encryption technology will take years. Given Bitcoin's decentralized nature, upgrading the encryption technology requires a broad consensus among the global 'crypto community' maintainers. The Wall Street Journal quoted analysts saying that if hackers were to attack Bitcoin using quantum technology, it would impact traditional financial markets. (Xinhua News Agency)

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