Willy Woo: Quantum computing risks are weakening BTC's long-term valuation advantage over gold Odaily Planet Daily News: Willy Woo stated in an article on X platform that the market has begun to price the threat of quantum computing, which poses a challenge to the 4 million "lost" BTC and the 12 year valuation upward trend of BTC compared to gold. The market has begun to consider the risks of future "Q-Day" breakthroughs, which are the moments when sufficiently powerful quantum computers can crack existing public key encryption technologies. If quantum computers can deduce private keys from public keys, about 4 million BTC that were thought to have permanently disappeared due to the loss of private keys may re-enter circulation, thereby disrupting the core scarcity narrative of BTC. This portion of tokens accounts for approximately 25% to 30% of the total supply of BTC. Willy Woo estimates that the probability of the BTC network agreeing to freeze these tokens through a hard fork is only 25%. Due to the fact that freezing tokens involves changing long-term norms such as interchangeability, immutability, and property rights, it may lead to deep disagreements within the community. There is a 75% chance that these tokens will remain unfrozen, and investors should assume that BTC, equivalent to the "8-year accumulation of the enterprise," may once again become consumable. This prospect has been translated into a structural discount of BTC against gold valuation in the next 5 to 15 years, meaning that the long-term upward trend of BTC's purchasing power measured in gold ounces is no longer effective. In addition, Jefferies strategist Christopher Wood removed BTC from his flagship model portfolio and shifted towards gold in January, citing the same reason that quantum machines may weaken BTC's value storage attribute as a pension level investor.