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Cryptocurrency investor and analyst Lark Davis said Google’s latest quantum computing research still does not put the technology at a level capable of breaking Bitcoin’s cryptographic keys.
In a post on X, Davis said investors should also consider what it would mean for the security of ordinary bank accounts if quantum computers became powerful enough to crack BTC keys. Google said in an official blog post on Oct. 15 that it had implemented “magic state cultivation,” a technology for efficiently generating the “magic states” needed for universal quantum computation, on its Willow quantum processor. Google added that generating magic states can consume as much as 95% of a quantum computer’s total computing resources, and said the new technology could significantly reduce the scale of quantum computers needed for practical computation. It also noted that larger-scale validation is still needed for commercialization and that many technical challenges remain.