Jan van Eck, CEO of investment management company VanEck, stated that quantum computing could pose risks to Bitcoin's encryption and privacy, but for now, it remains a good investment.
“There's some dynamics in the Bitcoin community that outsiders need to understand,” van Eck said in an interview with CNBC on Saturday. “The Bitcoin community has been asking itself: Is Bitcoin's encryption sufficient? Because quantum computing is on the horizon.”
He mentioned that the company believes in Bitcoin, but it existed before the launch of such cryptocurrencies, “If we believe its argument is fundamentally undermined, we will exit Bitcoin.”
VanEck is one of the largest crypto asset management firms globally, with several Bitcoin products, including a spot Bitcoin exchange-traded fund (ETF) in the U.S. that has attracted over $1.2 billion since its launch in early 2024.
van Eck noted that many Bitcoin “OGs or Maxis” have been focusing on privacy-centric tokens like Zcash to gain more privacy in trading.
In the past three months, Zcash's price has surged over 1,300%, amid a renewed interest in anonymous crypto trading, with the market rushing towards privacy tokens.
Cryptographer and cypherpunk Adam Back stated earlier this month that Bitcoin is unlikely to face a substantial threat from quantum computing for at least the next two to four decades.
van Eck summarized that the four-year cycle is being priced in by the market, and he suggested adopting a dollar-cost averaging strategy during bear markets rather than chasing bull markets.
He said that for “global mainstream liquidity reasons” and “on-chain realities,” Bitcoin “undoubtedly” should be included in investors' portfolios.
He briefly explained the halving cycle, adding that in the past decade, there has been a significant down year for Bitcoin every four years, “and a significant down year is expected in 2026,” with investors already preparing for this bearish trend.
“Each cycle is different. It’s evident that Bitcoin has risen less in this cycle, so many believe it will fall less during a correction.”
Since hitting an all-time high in early October, Bitcoin has dropped over 30%, falling to just above $82,000 on Friday, before rebounding to $88,000 in early Monday trading.
Related: Executives warn: MSCI index may exclude companies holding crypto assets
Original article: “VanEck Boss Questions Bitcoin (BTC) Privacy and Quantum Technology Encryption Capability”
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