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American investor and television star Kevin O’Leary stated that he remains optimistic about Bitcoin, but added that quantum computers have now become a new risk factor for institutional investors.
Speaking via the X platform, O’Leary noted that Bitcoin recently experienced a sharp 50% correction, adding that this is not the first time such a situation has been seen in the cryptocurrency market. However, the investor emphasized that a larger transformation is taking place beyond price movements, particularly highlighting significant shifts in the perspective of institutional capital.
According to O’Leary, while Bitcoin was hit hard during the sharp sell-off in October, many altcoins lost between 80% and 90% of their value and have not recovered from those levels. He attributes this primarily to institutional investors recalculating their risk-return strategies. O’Leary stated, “If you want to capture 90% of the potential upside and volatility in crypto, Bitcoin and Ethereum alone are enough. The majority of the rest were worthless projects and were eliminated accordingly.”
Despite this, O’Leary stated that he maintained his Bitcoin position, noting that a new concern has emerged in the market: quantum computers. He explained that institutional investors are seriously considering the possibility that a sufficiently advanced quantum computer could break blockchain encryption in the future, and that large funds will be reluctant to increase their Bitcoin allocations until this uncertainty is resolved.
According to the investor, as long as this risk perception persists, it seems unlikely that the share of Bitcoin allocated to institutional portfolios will exceed 3%. O’Leary added that institutions will remain cautious and disciplined, and will not take a more aggressive stance until clearer conclusions emerge regarding the quantum computing threat.
*This is not investment advice.