A new warning is stirring debate across the crypto market. Charles Edwards, founder of quantitative Bitcoin fund Capriole, says Bitcoin could drop well below $50,000 if the network fails to implement quantum-resistant security by 2028. Writing on X, Edwards stressed that the industry must move quickly to confront what he sees as a growing threat.
According to Edwards, a severe bear market may be the only force strong enough to push the network toward meaningful upgrades. He believes Bitcoin will trade below $50,000 and continue declining until developers deliver a working solution that protects against quantum attacks.
The timeline, he argues, is tight. Edwards says a patch must be underway by 2026. Without progress next year, he warns Bitcoin could face the biggest bear market in its history, one that would make the FTX collapse look minor by comparison.
At the center of the concern is quantum computing, which could eventually undermine the encryption systems securing Bitcoin wallets. In theory, sufficiently advanced quantum machines could expose private keys and sensitive data, giving malicious actors direct access to funds.
Skeptics continue to dismiss the risk, arguing that practical quantum computers are still decades away. They point out that banks and traditional financial systems would likely be targeted long before Bitcoin becomes vulnerable.
Edwards strongly disagrees. He argues Bitcoin would be first on the quantum chopping block. Traditional finance institutions are already migrating toward post-quantum encryption standards, and fraudulent transactions can often be reversed or blocked. Bitcoin, by design, does not offer those protections once funds move on-chain.
The quantum debate has circulated in crypto circles for years, with most participants treating it as a distant issue. Edwards’ 2028 deadline, however, brings the threat into much sharper focus than many investors are comfortable with.
Other industry voices remain split. Bitcoin OG Willy Woo suggested last month that holding BTC in a SegWit wallet for roughly seven years could offer temporary protection until a quantum-resistant upgrade is deployed. Meanwhile, Michael Saylor downplayed the concern earlier this year, calling quantum fears a marketing tactic used to promote quantum-themed tokens.
For Edwards, the conclusion is clear. Bitcoin must start deploying a fix now. Delaying action increases risk, not just to price but to the network’s long-term security. As the debate intensifies, the industry faces a familiar choice: act early or react under pressure.
