Peter Schiff Warns Quantum Hack Could Make Him ‘Short Everything’ On Bitcoin, Sees $600K Cycle Top

• Brand said a successful quantum computing hack of Bitcoin's core architecture would make him want to "short everything in the world on Bitcoin."

• He saw a "good shot" that Bitcoin had already bottomed in June and still hoped for a "tradable low" near $65,000 to $66,000 in early October.

• Brandt expected Bitcoin to reach above $250,000 by early 2029 and saw a cycle top between $300,000 and $600,000 later that year.

Veteran trader Peter Brandt said a quantum computing hack of Bitcoin's (BTC) core architecture would make him want to "short everything in the world of Bitcoin."

Brandt made the comments in an interview with CoinTelegraph on Friday, where he discussed the risk quantum computing could pose to Bitcoin's security. Quantum computers could potentially become powerful enough to break the cryptography protecting the network, likely undermining one of Bitcoin's fundamental security assumptions.

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"It'll never go to zero because there's always a sucker that wants to own it," Brandt said. "But… if it's hackable, that's an attack on its basic premise." He added that the Bitcoin experts he trusts believe the network cannot be hacked. Even if it were, Brandt said they believe it could be patched.