Crypto Assets Face Quantum Computing Threat by 2029, Experts Warn

July 27, 2026 · Security · CryptoRefuge Team

The emergence of quantum computing poses a significant threat to the security of cryptocurrencies, with experts warning that a commercially relevant quantum computer could be developed as early as 2029.

2029 is the expected year for the development of a commercially relevant, cryptographically relevant quantum computer, which could potentially break current cryptographic algorithms and compromise the security of cryptocurrencies like Bitcoin. According to Eddy Zervigon, CEO of Quantum Xchange, "Cryptocurrencies are the canary in the coal mine" for the quantum computing threat, due to their decentralized nature and reliance on cryptographic algorithms.

Live market snapshot (at publish): BTC $65,372 (+1.5% 24h)

The development of a commercially relevant quantum computer would require significant advancements in quantum computing technology, including the creation of a large number of physical qubits. Experts estimate that around physical qubits are needed to break elliptic-curve cryptography, although this number has declined by 20-fold in recent years. The quantum computing threat to crypto is not just about breaking cryptographic algorithms, but also about the potential for quantum computers to decrypt data that still has value.

As Zervigon notes, "If it takes me three months or six months to decrypt data that still has value, I've achieved the same goal."

$65,500 is the current price of Bitcoin, which could be vulnerable to the quantum computing threat. While the development of a commercially relevant quantum computer is still several years away, experts warn that the crypto industry needs to start preparing for this threat now.

The governance speed of different cryptocurrencies will play a crucial role in determining their vulnerability to the quantum computing threat. As Deutsche Digital Assets notes, "The difference — and this is the honest answer to the 'Bitcoin is uniquely vulnerable' narrative — is governance speed." This means that cryptocurrencies with faster governance speeds will be better able to respond to the quantum computing threat and implement post-quantum cryptographic algorithms.

Analysis: If a commercially relevant quantum computer is developed by 2029, it could pose significant risks to the security of cryptocurrencies like Bitcoin. However, if the crypto industry is able to develop and implement post-quantum cryptographic algorithms in a timely manner, it may be possible to mitigate this threat. Investors should closely watch the development of quantum computing technology and the response of the crypto industry to this threat, as it will be important to stay informed about the latest developments and advancements in this field.