Why Billionaire Tim Draper Isn’t Worried About Bitcoin's Quantum Threat
The quantum threat for Bitcoin may be coming faster than expected, but Tim Draper isn't scared
By Zack Guzman
April 1, 2026
The biggest threat to Bitcoin may be coming faster than anyone expected. But billionaire venture capitalist Tim Draper isn’t convinced it’s the existential crisis many believe it could be.
That tension is suddenly front and center after Google released new a research paper titled "Safeguarding cryptocurrency by disclosing quantum vulnerabilities responsibly." The warning shot signaled that quantum computing could break the cryptography underpinning Bitcoin sooner than previously expected.
Even among those firmly in the Bitcoin camp, concerns are growing about the need for Bitcoin core developers to put together a plan of action to address concerns that upgraded computing could break the cryptography underpinning the blockchain's security. But to Draper, the quantum "threat" may be overblown.
"It's not a threat, it's an opportunity," Draper said, reiterating his call for Bitcoin to hit $250,000. "With quantum, Bitcoin is going to be more secure because the first quantum users are going to mine Bitcoin and the miners are the ones that keep the blockchain secure."
That very well could be true, but as Google's paper highlights, there is a growing concern around how quickly outsized computing power may impact networks that aren't prepared for it. Particularly for Bitcoin, there remain a number of wallets that could be exposed to the threat unless the network itself upgrades in time. There is certainly historical precedent for that, but it would require mobilizing Bitcoin core developers around shared consensus for a plan.
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Fellow venture capitalist Nic Carter, who invested in quantum security firm Project Eleven, went viral on X this week after Elon Musk shared his thread highlighting Google's warning. As he writes, "if you're wagering the future of a trillion dollar asset on QC development following a slow, predictable, linear path, with public milestones, you are taking an enormous risk."
Carter also praised Ethereum developers for realizing the risks that quantum computing represent and for facing the issue head on. For example, the Ethereum foundation announced earlier this year that they would establish a Post-Quantum team to address the issue on the same timeline that Google has now warned is accelerating.
"The announcement of this team is not like a panic announcement," the new head of Ethereum's post-quantum team Thomas Coratger told Coinage back in February. "We take this very seriously and our approach is to be prepared well ahead of time in order to ensure a smooth transition from a pre-quantum world to a post-quantum world."
As Carter suggests, Bitcoin's need to address the issue is now — especially if Google's research is indicating that quantum systems capable of breaking encryption could arrive as early as 2029, years ahead of previous expectations. He also called on the community to begin the process of testing upgrades in 2026 in order to be prepared.
To Draper's point, Bitcoin core developers have reached consensus around contentious issues in the past.
"The sky is always falling to some people, but the world keeps getting better and more secure," Draper said. "And there gets to be a bigger and bigger premium on honesty as the world evolves."
