Google quantum chip threatens BTC? Microsoft rejects BTC reserve proposal, BTC96K high-end oscillation

The three major US stock indexes closed lower yesterday as the market awaits Wednesday's CPI and Thursday's CPI reports. Google announced its first quantum chip, Willow, reigniting concerns about the possible decryption of Private Key. Microsoft rejected the proposal for BTC reserves at its shareholder meeting, while BTC continues to fluctuate at high levels.

Will Google's quantum chip threaten BTC?

Google announced its first quantum chip, Willow, which will take computing to a whole new level. Its parent company, Alphabet, saw a big pump in stock price of over 5% yesterday, approaching historical highs. However, this has also sparked concerns about the possible cracking of the Private Key.

Analysts at Bernstein believe that it only has 105 quantum bits, still far from the millions of quantum bits required for actual attacks on BTC's Elliptic Curve Digital Signature Algorithm (ECDSA) and Secure Hash Algorithm (SHA-256).

However, some people believe that it is necessary to be prepared for the worst. Charles Edwards, the founder of Capriole Investments, said that there is a 50% chance of a quantum threat emerging in the next 5-10 years, and only 2,500 logical quantum bits could potentially break SHA-256. Edwards believes that action must be taken quickly to achieve consensus on upgrading encryption.

Of course, Quantum Computing poses a potential threat not only to BTC, but also to all Crypto Assets networks, traditional bank accounts, secure file storage, and any systems that rely on current encryption standards.

Microsoft rejects BTC reserve proposal

According to CNBC's report, Microsoft held its annual shareholders' meeting yesterday, and shareholders rejected the proposal to diversify the company's reserves with BTC. Proxy advisor Glass Lewis and institutional shareholder services also recommended voting against it.

(MicroStrategy's Michael Saylor urges Microsoft to implement BTC reserve strategy, Market Cap expected to increase by 5 trillion dollars)

Microsoft CFO Amy Hood responded to shareholders' questions at the meeting, saying, 'We will continue to think about the evolution of Crypto Assets.'

BTC continues to oscillate at a high level, with Bernstein's target price at $200,000.

After reaching a historic high of $104,088 on 12/5, BTC has retraced and continued to oscillate at high levels. Bernstein analysts believe that the recent decline in BTC is driven by more common triggering factors, such as excessive leverage deployed around $100,000. They believe that BTC within the price range of $95,000 to $98,000 is still attractive for investors in the next 6 to 12 months. Bernstein maintains a target price of $200,000 for BTC in the next year.

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