Last updated on March 6th, 2026 at 03:05 pm
Bitcoin’s recent price slump is unlikely to be driven by fears of quantum computing, according to veteran developer Matt Corallo, who argues that market behaviour doesn’t support the theory.
Speaking to journalist Laura Shin on the Unchained podcast, Corallo said he “strongly disagrees” with claims that quantum risk is materially impacting Bitcoin’s valuation.
“If that were true, then Ethereum would be up substantially on Bitcoin,”
he said, suggesting capital would rotate into networks perceived as more quantum-ready.
At the time of publication, Bitcoin was trading around $67,000, down roughly 46% from its October all-time high of $126,100, according to CoinMarketCap. Meanwhile, Ethereum has fallen even further, declining about 58% since the broader crypto market downturn in early October.
Ethereum highlights post-quantum plans
Debate around quantum risk has intensified in recent months, with some Bitcoin advocates arguing that developers have not moved quickly enough to future-proof the network. In contrast, the Ethereum Foundation said in a recent protocol update that long-term post-quantum readiness forms part of its broader security roadmap.
Corallo acknowledged that quantum computing presents a long-term theoretical threat to cryptographic systems but said it is not viewed by professional market participants as an imminent danger.
Instead, he suggested that some investors may be searching for an explanation for Bitcoin’s underperformance.
“There are a lot of Bitcoiners who want to blame something,”
he said.
Capital competition from AI
Corallo argued that a more plausible factor behind Bitcoin’s decline is growing competition for global investment capital, particularly from artificial intelligence.
“AI is super capital-intensive,”
he said, describing it as a massive emerging investment class drawing attention and funds toward traditional equities and infrastructure plays tied to artificial intelligence development.
Adding to the discussion, asset manager BlackRock updated filings for its iShares Bitcoin Trust to highlight quantum computing as a potential long-term risk to the network’s integrity. Additionally, BlackRock’s spot Bitcoin exchange-traded fund (ETF) recorded its highest-ever daily trading volume as investors reacted to a steep drop in Bitcoin’s price.
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