Is Bitcoin threatened with extinction? VanEck boss talks about quantum computer risks
The debate over Bitcoin’s security is taking a new turn: VanEck has expressed doubts about the cryptocurrency’s long-term resilience.
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• VanEck CEO Jan van Eck questions the long-term security of Bitcoin through quantum computing
• Blockstream CEO Adam Back sees a significant quantum risk in 20 to 40 years at the earliest
• Despite the concerns, Bitcoin remains a sensible portfolio component, according to van Eck
“Then we will turn away from Bitcoin”
In an appearance on CNBC’s “Power Lunch,” Jan van Eck asked a question that was surprising to many: Does Bitcoin have enough encryption and privacy to withstand the age of quantum computing? According to the VanEck CEO, it is no longer just about short-term price fluctuations within the Bitcoin community. There is a deeper debate that outsiders often don’t notice.
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Van Eck emphasized that VanEck continues to support Bitcoin, but always critically questions the technological fundamentals. The asset manager existed before Bitcoin and will turn away from the cryptocurrency if the underlying thesis no longer proves to be viable. The decisive factors are the strength of cryptography, the preparedness for quantum computer attacks and the data protection model of the network.
Disagreement about the time horizon
When it comes to the question of when quantum computers could actually become a threat, assessments vary widely. The well-known cryptographer and Blockstream CEO Adam Back believes that a significant quantum risk for Bitcoin is realistic in 20 to 40 years at the earliest. In mid-November, he explained on Platform
Probably not for 20-40 years, if then. And there are quantum secure signatures, NIST standardized SLH-DSA last year. Bitcoin can add over time, as the evaluation continues and be quantum ready, long before cryptographically relevant quantum computers arrive.
– Adam Back (@adam3us) November 15, 2025
However, other voices see a more urgent need for action. Ethereum co-founder Vitalik Buterin warned at the Devconnect conference in Buenos Aires that quantum computers could threaten elliptic curve cryptography. As DL News reports, Buterin explained that this development could occur before the next US presidential election in 2028 – meaning Ethereum only has around four years to switch to quantum-resistant cryptography. BlackRock also explicitly listed quantum computers as a risk factor in an updated prospectus for its Bitcoin ETF.
Zcash as an alternative – and Bitcoin still in the portfolio
In the CNBC interview, Van Eck also pointed to a growing interest in privacy coins among many long-time Bitcoin supporters. Some “OGs” and Bitcoin maximalists are increasingly looking at Zcash because this cryptocurrency offers significantly more privacy. Bitcoin’s transparent blockchain could come into conflict with increasing expectations of transaction confidentiality.
Despite the technological uncertainties, van Eck continues to classify Bitcoin as a sensible portfolio component – due, among other things, to the high global liquidity and the established trading infrastructure. He also referred to the well-known four-year cycle surrounding the halving: Bitcoin has so far risen more weakly in this cycle than in previous bull markets, which is why many investors assumed that the coming correction could also be milder. Van Eck’s advice to investors: Build positions in bear markets using dollar-cost averaging.
D. Maier / editorial team finanzen.net