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IBM, a global technology innovator, has unveiled its plans in the quantum computing space. The company recently introduced its 1,121-qubit “Condor” quantum computing processor, which is the largest by qubit count and considered the world’s most advanced gate-based, superconducting quantum system. IBM has also outlined its future goals, aiming to execute 100 million gates over 200 qubits by 2029, followed by a 10x improvement by 2033. This represents a significant increase in computing power and has garnered attention from the crypto community. Concerns have been raised about the potential threat quantum computing poses to Bitcoin’s security. Researchers have warned that quantum technology could crack Bitcoin’s cryptography, exposing private keys from public keys. While this poses a risk, it is important to note that only a small fraction of Bitcoins would be vulnerable to attack, and the majority of owners have already lost their private keys. As long as the Bitcoin network takes approximately 10 minutes to complete, it is considered safe, as quantum computers would currently take much longer to break the encryption. However, if there is congestion and transactions take more than 30 minutes, the network could be at risk. Overall, the advancement of quantum computing presents both opportunities and challenges for the technology industry and the crypto community.