PsiQuantum builds quantum computer, but Bitcoin encryption threat remains distant

PsiQuantum, in collaboration with Nvidia, is developing a quantum computer with 1 million qubits and has raised around 1 billion USD. While some scientists suggest such computational power could theoretically break Bitcoin’s encryption in the future, experts widely view this threat as at least 10 years away or longer. Current research indicates only about 10,000 BTC are theoretically vulnerable to quantum attacks, an amount insufficient to significantly impact the broader network. PsiQuantum itself has stated no intention to use its technology to attack Bitcoin.