Willy Woo: Quantum computing risks may affect BTC's long-term valuation advantage

Willy Woo posted on X platform that the market has begun pricing the threat of quantum computing, which may affect BTC's long-term valuation advantage over gold. About 4 million BTC, believed to have permanently disappeared due to the loss of private keys, account for 25% to 30% of the total supply. If quantum computers can crack public key encryption technology, these BTCs may re-enter circulation, weakening the scarcity narrative. Willy Woo estimates that the probability of freezing these tokens is only 25%, and the probability of not freezing is 75%. This risk has led to a structural discount in BTC's valuation of gold over the next 5 to 15 years. In addition, Jefferies strategist Christopher Wood removed BTC from its flagship model portfolio in January and shifted towards gold.