Speaking on CNBC, Saylor said major tech companies like Google or Microsoft would never unleash quantum technology recklessly, as it would endanger the global digital infrastructure, including their own businesses. He added that Bitcoin is capable of upgrading its cryptographic systems if the need arises. While research firm Project Eleven warns millions of Bitcoin could be vulnerable if quantum computing advances, current machines are far from meeting the required qubit threshold. Meanwhile, Saylor continues his bullish stance, and recently teased Strategy’s ninth straight week of Bitcoin accumulation. The announcement was made after a $75 million BTC purchase and a $1 billion preferred stock offering to fund even more buys. Similarly, Europe’s Blockchain Group is planning to raise $342 million to grow its BTC treasury. Quantum Threat to Bitcoin Is Just Marketing Hype? Bitcoin bull and Strategy executive chairman Michael Saylor dismissed the growing concerns about quantum computing’s potential threat to Bitcoin, and labeled it a marketing tactic that is designed to promote quantum-themed tokens. In a June 6 appearance on CNBC’s “Squawk Box,” Saylor stated bluntly that fears surrounding quantum computing’s ability to break Bitcoin’s cryptographic defenses are overblown and largely propagated by those who want to profit off hype. “It’s mainly marketing from people that want to sell you the next quantum yo-yo token,” he said. The crypto community has long speculated about whether future advances in quantum computing could undermine Bitcoin’s security by cracking its elliptic curve cryptography ( ECC ). Quantum research firm Project Eleven even warned that more than 10 million Bitcoin addresses with exposed public keys—and potentially over 6 million BTC—could be vulnerable if such computing power becomes a reality. Still, Saylor insists that if quantum computing ever evolves to the point of being a genuine threat, it wouldn’t be used recklessly. He argued that technology giants like Google or Microsoft will never release such a machine, as doing so could destabilize the global digital infrastructure, including their own businesses and even the US government. “Google and Microsoft aren’t going to sell you a computer that cracks modern cryptography,” he said, mainly due to the widespread damage that would ensue. In the hypothetical scenario where quantum machines do pose a real risk, Saylor believes the Bitcoin network will adapt, just as any modern digital system does. He also explained that Bitcoin’s open-source infrastructure allows for software and hardware upgrades, much like updates seen regularly across Microsoft, Google, and government systems. For now, quantum hardware is still far from capable of breaking Bitcoin’s ECC. Project Eleven estimates that roughly 2,000 error-corrected, or “logical,” qubits will be needed to crack a 256-bit Bitcoin key. IBM’s Heron chip and Google’s Willow currently only support 156 and 105 qubits respectively. Despite this, Project Eleven recently launched a “Q-Day Prize” competition to test how close the quantum threat really is. For now, Saylor believes that the bigger risk to Bitcoin holders is not quantum computing but phishing attacks. Strategy Nears Ninth Straight Week of Bitcoin Buys Michael Saylor’s confidence in Bitcoin is still very clear as he once again stirred speculation in the Bitcoin community after posting “Send more Orange” on X, alongside a chart of the company’s Bitcoin holdings. Saylor’s June 8 post led many to believe that yet another BTC purchase may be imminent. If confirmed, it will be the ninth consecutive week of Bitcoin accumulation by Strategy. The post was made after the company’s recent purchase of 705 BTC between May 26 and June 1, at an average price of $106,495 per coin. This $75 million acquisition pushed the firm’s total Bitcoin holdings to 580,955 BTC, which is valued at roughly $61.4 billion. According to data from SaylorTracker , the company has seen a return of approximately 50% on its investment. In tandem with the social media post, Strategy announced an expansion of its capital-raising efforts through a $1 billion stock offering . This move upsizes the previously announced $250 million raise. The company plans to sell 11.76 million shares of its 10.00% Series A Perpetual Stride Preferred Stock at $85 per share, with anticipated net proceeds of around $979 million after deducting underwriting and other associated costs. The preferred stock carries non-cumulative 10% dividends, and is designed to attract institutional and professional investors who are looking for yield while also making it possible for Strategy to expand its Bitcoin treasury. Strategy cemented itself as the largest known holder of Bitcoin globally, with more BTC in its possession than the United States and China combined. Its massive holdings are nearly twelve times bigger than those of the next-largest holder, Bitcoin miner Mara Holdings. As a result, many investors now vsee Strategy as a de facto Bitcoin holding company, serving as a proxy for institutional exposure to the cryptocurrency. Top Bitcoin holders (Source: BitcoinTreasuries.NET ) Blockchain Group Pushes Bitcoin Bet Paris-based cryptocurrency firm The Blockchain Group also has high expectations for Bitcoin, and announced plans to raise more than $340 million to expand its Bitcoin treasury. According to a June 10 news release , the company is seeking to raise 300 million euros, or approximately $342 million, by using a structure inspired by the US-style “At the Market” (ATM) offering. This model allows shares to be sold under market conditions set by a counterpart in a pre-agreed volume framework. The capital raise will take place in tranches, with pricing determined by the higher of either the previous day's closing price or the volume-weighted average price, capped at 21% of that day’s trading volume. This announcement was made after the company’s recent acquisition of $68 million worth of Bitcoin, bringing its total holdings to 1,471 BTC. The Blockchain Group is Europe’s first dedicated Bitcoin treasury company, and appears to be following the footsteps of major US players like Michael Saylor’s Strategy. With more than $61 billion in Bitcoin on its balance sheet, Strategy holds about 2.76% of the total circulating BTC supply. These large-scale treasury allocations are playing an increasingly central role in sustaining Bitcoin’s long-term bullish narrative, even as the asset consolidates after its record high of $112,000 that was reached on May 22. According to Nexo’s Stella Zlatareva , institutional purchases and infrastructure investment are strong signals of enduring confidence, despite the recent short-term volatility. Bitcoin’s recent bounce from the $103,000 support level further proves that there is market resilience, with no widespread signs of forced selling or deleveraging. Bitcoin ETF flow (Source: Farside Investors ) However, the US-listed spot Bitcoin ETFs faced renewed outflows . Data from Farside Investors showed that these ETFs recorded $47 million in outflows on Friday after a painful $278 million outflow the previous day.
