Bitcoin News: River CEO Warns of Quantum Threat to Bitcoin, But Banks Seen as More Secure

Alexander Leishman, CEO of River, sounds the alarm on Bitcoin's vulnerability to quantum computing while maintaining that traditional banking systems are currently more resilient.

River CEO Warns of Quantum Computing Threat to Bitcoin, Sees No Immediate Danger for Banking Systems

Alexander Leishman, CEO of River, has warned that Bitcoin is at risk from quantum computers, but believes traditional banking systems are more secure. He argues that while quantum computing poses a threat to Bitcoin's security, banks have multiple defenses in place to prevent a widespread collapse. Leishman's comments have sparked debate over the timeline of a quantum threat to Bitcoin, with some skeptical that it is a near-term problem. However, he emphasizes that it is important to consider the potential risks and prepare accordingly.

Bitcoin Rallies Toward $97.7K Breakout

Bitcoin has surged past $98,500, reaching a high of $98,725 before consolidating. The cryptocurrency has established a strong base above $94,500 and initiated a recovery wave, surpassing key resistance levels. A significant move above $97,700 has reinforced bullish sentiment. The Fear & Greed Index has shifted to 'Greed,' signaling bullish momentum. A breakout above $99,500 could propel BTC toward $100K–$102K, while dropping below $94K risks testing $90K.

Bitcoin Mining Revenue Remains Stable at $1.4 Billion in January

Bitcoin mining revenue held steady at $1.4 billion in January, according to a new report by TheMinerMag. Network activity registered at 780 EH/s, with the overall hashrate advancing from 642 EH/s in September to 779 EH/s in December. Public mining companies, accountable for roughly 35 percent of total Bitcoin rewards, saw their combined market share decline to 30 percent in January due to operational curtailments. Private operators and other firms adjusted their capacity in response to a changing competitive landscape.

Proposal for U.S. to Acquire 20% of All Bitcoin

Michael Saylor advocates for a strategic move by the U.S. to strengthen the dollar and address national debt by acquiring 20% of all Bitcoin. The proposed acquisition would cost about $393 billion and could prevent countries like China or Russia from securing strategic advantages with Bitcoin. Saylor highlights Bitcoin's borderless, politics-free nature and its resistance to manipulation by governments or corporations. His company, Strategy, has a $47 billion Bitcoin portfolio, showcasing the asset's potential. Saylor envisions a digital currency-driven world enabling unprecedented global influence and power shifts.

Bitcoin's Negative Funding Rates Suggest Potential Price Rebound

As Bitcoin (BTC) navigates volatile market conditions, its funding rates have shifted into negative territory. This indicates high short interest and suggests a potential market bottom. A negative funding rate could trigger a significant price rebound for BTC, driven by a short squeeze. Traders and analysts are closely monitoring this shift in funding rates to assess its impact on the future of Bitcoin.