Wall Street research firm Bernstein is pushing back on alarm over quantum computing’s threat to Bitcoin, framing the challenge as a scheduled protocol evolution rather than a crisis in waiting.

In a note to clients on Wednesday, analysts led by Gautam Chhugani acknowledged that cryptographically relevant quantum computers (CRQCs) pose a genuine challenge to Bitcoin and the broader digital asset ecosystem — but stopped short of treating that challenge as an emergency. The team estimates Bitcoin and other crypto protocols have three to five years to implement post-quantum security measures, a window they describe as sufficient given current technical and cost constraints.

The…

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