Google warns Bitcoin faces a huge threat and only has three years to act or could be in trouble

Google researchers have warned that cryptocurrencies, such as Bitcoin, are facing a huge threat and have just three years to act. 

Google warned that future quantum computers could pose a serious problem for cryptocurrencies. 

To keep safe, cryptocurrencies will need to introduce new cryptographic techniques that will prevent attacks from quantum computers. 

But in a newly published white paper, Google Quantum AI researchers said the cryptocurrency industry actually has less time to prepare for quantum computing than previously thought. 

Cryptocurrencies, like Bitcoin, have been warned about an impending threat

Back in 2008, Bitcoin was invented after someone using the pseudonym Satoshi Nakamoto published a white paper. 

At the time, Bitcoin, or BTC, was virtually worthless, but since then, the financial world has watched on as it’s enjoyed an absolute roller coaster in terms of value. 

Since BTC was launched, more than 25,000 other cryptocurrencies have landed on the scene, and the market has an estimated capitalization of around $3 trillion. 

Unlike traditional currencies, cryptocurrency is entirely digital and runs through a computer network, meaning it isn’t reliant on a traditional central authority, like a bank or government. 

However, this week, Google issued a warning about future quantum computers and the threat they pose to crypto. 

In a blog post, Google explained that these powerful computers will likely be able to break the cryptography that protects the likes of Bitcoin with lower computing power than previously believed. 

“Quantum computers will pose a significant threat to current cryptographic standards, and specifically to encryption and digital signatures,” the post said.

In the white paper published by Google, researchers said breaking the elliptic curve cryptography, which protects Bitcoin and a bunch of other major cryptocurrencies, could require under 500,000 physical qubits on a quantum computer. 

This is about 20 times less than previous estimations. 

Google is urging cryptocurrencies to act sooner rather than later

Although this all might sound pretty worrying, it’s important to stress that no current computer is able to execute this attack. 

Nonetheless, Google is urging cryptocurrencies to take action sooner, rather than later. 

It has announced a new post-quantum cryptography (PQC) migration timeline of 2029. 

“We urge all vulnerable cryptocurrency communities to join the migration to PQC without delay,” the paper said.

Timeline of major Bitcoin value milestones

2009: Bitcoin is launched by Satoshi Nakamoto with no official market value

2010: First real-world transaction — 10,000 BTC used to buy two pizzas (valuing Bitcoin at fractions of a cent)

2013: Bitcoin surpasses $1,000 for the first time during a major adoption surge

2017: Bitcoin reaches nearly $20,000 at the peak of the first global crypto bull run

2020: Institutional investors begin accumulating Bitcoin, pushing it past its previous all-time high

2021: Bitcoin hits a record high near $69,000 during broad market adoption

2024: Bitcoin breaks above $100,000 for the first time ever, later reaching $104,000 before pulling back — a historic milestone driven by strong ETF inflows and market momentum

2025: Bitcoin sets further all-time highs above $120,000 before volatility returns

DISCOVER SBX CARS: The global premium car auction platform powered by Supercar Blondie