VanEck boss questions Bitcoin’s privacy, encryption against quantum tech

Jan van Eck says quantum computing could threaten Bitcoin's encryption and privacy, and his firm “will walk away” if it’s “fundamentally broken.”

Bitcoin’s encryption and privacy could be at risk from quantum computing, but it is still a good investment for now, says Jan van Eck, CEO of investment manager VanEck.

“There is something else going on within the Bitcoin community that non-crypto people need to know about,” van Eck told CNBC on Saturday. “The Bitcoin community has been asking itself: Is there enough encryption in Bitcoin? Because quantum computing is coming.”

He said that the company believes in Bitcoin (BTC), but it was around before the cryptocurrency launched and “will walk away from Bitcoin if we think the thesis is fundamentally broken.”

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