Bitcoin price to hit $180,000 if it overcomes this hurdle, analyst says

Core Viewpoint - Concerns regarding quantum computing's potential to break Bitcoin's encryption are significantly impacting investor sentiment, with experts suggesting that without addressing these vulnerabilities, Bitcoin's price may not see a rally soon [1][3]. Group 1: Expert Opinions - Eliezer Ndinga from 21Shares believes that if developers can mitigate the quantum threat, Bitcoin could rise to $180,000, but currently, the situation remains uncertain [1]. - Sergio Ermotti, CEO of UBS, and other market leaders like Ray Dalio and BlackRock echo similar sentiments, emphasizing the need for Bitcoin to demonstrate resilience against quantum computing [1]. - Christopher Wood from Jefferies Group has removed Bitcoin from his portfolio recommendations, advising a shift towards gold and gold-mining stocks instead, reflecting a broader institutional concern about Bitcoin [2]. Group 2: Quantum Computing Threat - The rapid advancements in quantum computing are raising alarms among investors, as the technology could potentially compromise Bitcoin's encryption model if misused [3]. - Research from Chaincode Labs indicates that quantum computers could enable the theft of 20% to 50% of all Bitcoin, translating to a potential loss of $400 billion to $900 billion, including the estimated 1 million Bitcoin held by Satoshi Nakamoto [4]. Group 3: Community Response - The Bitcoin development community is currently engaged in discussions about vulnerabilities that have not been adequately addressed, highlighting the urgency of the situation [3]. - Ndinga categorizes the quantum threat based on timing and magnitude, suggesting that up to 50% of Bitcoin could be at risk, with the timeline for this threat being uncertain, ranging from a few years to several decades [5][6].