The newly elected President Trump of the United States has promised to establish a strategic reserve of Bitcoin held by the government, similar to the digital Fort Knox, but quantum computing could allow thieves to raid Fort Knox. Some veteran cryptocurrency experts say that Bitcoin still has enough time to fix its vulnerabilities. Emin Gün Sirer, founder of the Avalanche cryptocurrency company, said, "At some point in the future, the quantum apocalypse will definitely arrive, but that moment is still a long way off, so there is no need to panic." Cryptocurrency executives believe that Bitcoin can ensure its security by adopting a new type of encryption that is difficult for quantum computers to crack, but such a complete overhaul could take years. Due to the decentralized nature of Bitcoin, changing its technology requires a broad consensus among the people around the world who maintain its network. Past upgrades have progressed slowly and have been contentious. However, even if the community reaches a consensus on how to quantum-proof Bitcoin, there is another obstacle: existing Bitcoins need to be transferred to quantum-resistant addresses. Every individual or business holding Bitcoin will need to execute such a transfer, or they risk having their Bitcoins stolen by quantum thieves. (WSJ)

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