VanEck Analyst Highlighted Bitcoin Quantum Risks
The lack of centralized governance poses potential challenges for implementing quantum-resistant cryptography.
Updated on Sept. 18, 2026 in Quantum Computing
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VanEck head of digital assets research Matthew Sigel warned that Bitcoin currently relies on cryptography vulnerable to future quantum computing capabilities. While developers are working on upgrade frameworks, the network lacks a central authority to accelerate these changes.
Why it matters
Because Bitcoin operates under a decentralized governance model, the transition to quantum-resistant standards moves significantly slower than in traditional financial systems. This structural design forces developers to balance necessary cryptographic security updates with the rigid consensus required for network changes.
Bitcoin currently relies on established cryptographic methods that remain theoretically vulnerable to future quantum computing attacks. Developers are investigating paths toward quantum resistance, though these upgrades require network-wide consensus.
The players
Matthew Sigel
The head of digital assets research at VanEck, an investment management firm providing digital asset strategies and regulated market access.
VanEck
An investment management firm that analyzes risks in U.S. capital markets and provides research on digital asset infrastructure.
The details
Bitcoin maintains security through public-key cryptography, a system where users generate a pair of keys to sign transactions and prove ownership of funds. Quantum computers — machines that leverage quantum mechanical phenomena like superposition to process complex calculations — could theoretically derive private keys from public addresses. Developers are currently exploring frameworks to upgrade the network, which involves proposing and testing code changes that can be adopted by a majority of nodes.
Timeline
September 17, 2026: Matthew Sigel provided an interview to CNBC outlining these long-term risks.
The Tech Race
The assessment of Bitcoin's cryptographic longevity follows a pattern of heightened risk awareness established after the 2022 crypto market cycle failures of FTX, Genesis, BlockFi, and Celsius. This focus shifts the industry conversation from institutional counterparty risk to long-term systemic technological vulnerability.
For current investors, this assessment highlights the necessity of monitoring how the developer community approaches future network upgrades. There is no immediate action required for users, as the technical path to quantum resistance remains in the research and framework development phase.
The takeaway
Bitcoin faces a structural challenge in adapting to quantum threats because it lacks a centralized CEO to mandate updates. Observers should track progress on proposed network upgrade frameworks and peer-reviewed research regarding post-quantum cryptographic implementations.
Further reading
Explore the evolving landscape of Quantum Computing to understand how cryptographic standards are adapting to new hardware capabilities.
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Do you trust that current cryptocurrency market leverage does not pose a systemic financial risk?
