According to Grayscale, on May 5, quantum computing is not the primary driver of Bitcoin’s recent price decline. While advanced quantum computers pose a long-term potential threat to traditional cryptography, Grayscale noted that Bitcoin and quantum computing-focused stocks have moved in tandem over recent months. If quantum computing breakthroughs posed an imminent threat to Bitcoin, quantum stocks should be rising; instead, they have declined alongside Bitcoin. Grayscale attributed the recent pullback since October to broader market de-risking of growth assets due to concerns about AI’s impact, rather than quantum-related concerns.
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