According to Woo, there’s only one reason for this: quantum mechanics.
Woo today shared a post from his X account, accompanied by a chart showing $BTC’s performance against gold since 2010. According to this chart, Bitcoin steadily gained value against gold for 12 years, showing a clear upward trend. However, this trend has now been broken.
“$BTC should be worth much more than gold. It should be. But it isn’t.”
“As Quantum gained recognition, the valuation trend was disrupted.”
According to Woo, who noted that the market and Bitcoin are now pricing in the potential of a quantum computer powerful enough to break current public-key cryptography, such a development could allow the recovery and reintroduction of the private keys of an estimated four million permanently lost Bitcoins.
Woo also noted that this amount of 4 million coins is larger than 8 years of institutional accumulation, and added that the probability of Bitcoin performing a hard fork to freeze these coins before the network is rescued is estimated at only 25%.
Woo ultimately predicted that Q-Day, the point at which quantum computers will become a real threat, is still 5 to 15 years away. However, markets are not waiting for this event and are pricing it in beforehand.
*This is not investment advice.