Does Quantum Computing Mean the End of Bitcoin? Wall Street Says No

A Global Divide in Sentiment A clear split has emerged in the Bitcoin market. While offshore traders are pulling back and reducing risk, U.S. institutional investors—Wall Street hedge funds and desks—remain bullish.

This divergence is most visible in the futures market. According to research from NYDIG, the “basis” (the premium traders pay for futures contracts over the current spot price) remains high on the U.S.-based CME exchange. In contrast, this premium has dropped significantly on Deribit, the leading offshore exchange. This gap serves as a real-time indicator that American investors still have an appetite for leveraged long positions, while the rest of the world is stepping back.

Debunking the “Quantum Threat” Myth When Bitcoin recently dipped to $60,000, rumors circulated that the sell-off was driven by fear of quantum computing breaking Bitcoin’s encryption. However, the data suggests otherwise.

NYDIG found that Bitcoin’s price actually moves in sync with quantum computing stocks (like IONQ and D-Wave), rather than against them. If quantum technology were truly a threat to crypto, those stocks would likely rise while Bitcoin fell. Instead, both assets dropped together.

This correlation indicates a broader market trend: investors are simply selling off “long-duration” assets—speculative investments based on future technology—rather than reacting to a specific flaw in Bitcoin’s security.

Coindesk