Bitcoin’s cryptography could face a long-term threat from quantum computers, but the current technology does not pose a major immediate risk, an assessment said.

U.Today reported on Aug. 25 that Mike Belshe (마이크 벨시), BitGo’s co-chief executive, said on Fox Business that there is no quantum computer that can immediately threaten bitcoin.

He stressed that the point at which the industry should worry is still far off. He said existing quantum systems are very limited and that only equipment that works in theory is available. He said quantum computing performance remains at about single digits to around 100, adding that there is still a long way to go.

The industry is also preparing countermeasures for long-term risks. BitGo has already launched a quantum-resistant wallet, but Belshe said it is not complete.

Concerns have long been raised that bitcoin’s cryptography could, in theory, be vulnerable to future high-performance quantum computers. But Belshe said it should not be seen as an immediate crisis given large inflows of capital into the market and growth in the digital asset industry. He said new funds worth billions of dollars are flowing into the digital asset industry and assessed the current situation as positive for the industry.

Belshe also said volatility in the cryptocurrency market could continue. As the digital asset industry is in the process of changing how the financial system works, he said it would be difficult to avoid phases of repeated sharp rises and sharp falls. He added that traditional markets and market infrastructure were built from scratch as well, and that in such a period of change, gains and declines can repeat.

Belshe stressed that the market’s direction should not be concluded based only on short-term price moves. "If you are not prepared to handle a 20 percent drop, you cannot handle a 600 percent rise," he said. He meant that investors must tolerate high volatility in digital asset markets, where steep corrections and sharp rallies coexist.

The core of his remarks is that he acknowledges the potential threat quantum computers could pose to bitcoin but does not view it as an immediate security crisis at the current stage. He also said that even though BitGo has already launched a quantum-resistant wallet, further improvement is needed, suggesting the industry’s response is closer to a long-term process of technical reinforcement and transition than a single product launch.