Willy Woo: Market Front-Running Quantum Threat with 4M Coins of Sell Pressure, BTC Price to Remain Under Clouds

BlockBeats News, February 16th, prominent analyst Willy Woo stated that Bitcoin has recently broken its 12-year valuation trend relative to gold. Bitcoin's relative valuation should have been higher, but in reality, it has not materialized, mainly due to the awakening risk of quantum computing, causing the market to begin pricing in potential issues in advance.

Bitcoin is likely to be patched in the future through quantum-resistant signatures, but this will not address the issue of around 4 million "lost" BTC (early lost private keys that could be cracked by quantum computers) re-entering circulation. Willy Woo estimates a 75% chance that these lost bitcoins will not be frozen through a protocol hard fork, so the market needs to account for the 4 million coins of selling pressure in advance.

Since MicroStrategy began accumulating BTC in 2020, the total accumulation by corporations and ETFs is only 2.8 million BTC. This 4 million lost tokens are equivalent to 8 years of corporate accumulation, leading to significant supply dilution. Before "Q-Day" (Quantum Computing Threat Implementation Day, expected 5-15 years from now), the price of BTC will continue to be affected by this dark cloud.