Bernstein: Quantum threat to Bitcoin is manageable

Wall Street broker Bernstein has assessed the quantum computing threat to Bitcoin, deeming it a credible but manageable risk. While advances in quantum computing are accelerating timelines for potential cryptographic attacks, the firm argues Bitcoin faces a multi-year upgrade cycle rather than an existential crisis. The primary vulnerability lies in older, legacy wallets, with core network functions like mining remaining largely secure. Bernstein estimates the crypto industry has a three to five-year window to transition to post-quantum security through protocol upgrades and wallet changes, suggesting a proactive approach to system modernization.