Tether CEO predicts that quantum computing could potentially recover lost Bitcoin

Tether’s CEO, Paolo Ardoino, has raised an intriguing point regarding the potential impact of quantum computing on Bitcoin (BTC). In a recent statement, he suggested that quantum computing advancements could one day allow for the recovery of lost Bitcoin, including the 1 million BTC believed to be held by Satoshi Nakamoto, the pseudonymous creator of Bitcoin—assuming Nakamoto is no longer alive.

Ardoino reassured the public, however, that quantum computing doesn’t pose an immediate threat to Bitcoin’s cryptography. He believes that quantum-resistant addresses could eventually be integrated into Bitcoin’s protocol, offering a proactive solution before any serious security vulnerabilities arise. These quantum-resistant addresses would enable Bitcoin holders to transfer their assets into new, quantum-safe wallets, providing an avenue to preserve the security of funds as quantum computing progresses.

However, the issue arises with inaccessible wallets, like those potentially belonging to Nakamoto. These could be at risk if quantum computing becomes capable of breaking current encryption methods, potentially allowing someone to access those lost or inaccessible funds.

Patrick Lowry, CEO of Samara Asset Group, countered Ardoino’s viewpoint by proposing the idea of a quantum-resistant fork of Bitcoin. This fork could potentially leave behind lost wallets, including those of Nakamoto. Lowry, however, expressed uncertainty about the implications of either solution, indicating that while quantum computing could offer new possibilities, there are still significant unknowns regarding its effect on blockchain ecosystems.

Despite these potential challenges, Ardoino maintained his belief in Bitcoin’s fundamental strength, reiterating that the coin’s 21 million supply cap would remain unchanged, even as quantum computing evolves. He further emphasized Bitcoin’s role as the “best asset in the world” and underscored Tether’s commitment to supporting the global financial ecosystem.

Tether’s Global Expansion

Amidst the quantum computing discussion, Tether continues to grow its influence globally. During the PlanB Forum in El Salvador, Ardoino outlined Tether’s decade-long efforts to build a vast financial network. The company is focused on providing financial services to 400 million users in emerging markets, largely through its USDT stablecoin. Ardoino also highlighted Tether’s partnerships and kiosk deployments across developing nations as part of its broader mission to expand access to digital finance and banking systems, especially in regions underserved by traditional financial institutions.

Additionally, Ardoino stressed that Tether is more focused on forging strategic partnerships rather than seeking capital investment. The company also continues to support the U.S. economy by purchasing Treasuries.