Capriole Investments founder Charles Edwards says Bitcoin could see a sharp price increase if the network makes real progress on post-quantum security. Speaking on Bitcoin Suisse AG’s podcast with Dominic Weibel and Luca Gnos, Edwards argued that Bitcoin’s recent weak performance, low sentiment, and institutional caution suggest quantum risk may already be partly priced into the market. He described the current situation as one of the strongest buying opportunities for Bitcoin in months, but with a major catch.
In his view, Bitcoin has “completely flipped the script” after a nine-month downtrend, showing relative strength against stocks and gold even as geopolitical risks, oil market concerns, and macro uncertainty remain high. “Bitcoin, which has been in a massive downtrend for the last nine months, completely flipped the script in the last two, three weeks,” Edwards said. “Those are very strong signals that you usually only get every couple of years in my experience.”
Quantum risk is now central to Bitcoin. According to Edwards, the key factor is no longer the traditional four-year cycle, miner supply, or short-term macro volatility. It’s whether Bitcoin can show credible progress toward quantum-resistant signatures before the perceived threat window narrows further.
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Edwards said he remains positive on Bitcoin as an investment because the asset has already been heavily discounted. But he was blunt about the longer-term risk if Bitcoin Core contributors and the broader ecosystem continue to treat quantum security as a distant issue. “I’m constructive and optimistic from an investor point of view because we had such a big discount,” he said. “Today it’s fully priced in the risk and more so. For me that means it’s a good opportunity in the near term.”
That opportunity, however, comes with conditions. Edwards said his concern is that Bitcoin’s current cryptographic assumptions could become a live market issue before the network has finished the long process of developing, agreeing on, and rolling out post-quantum upgrades. “If we do nothing for two years, I probably won’t have any Bitcoin,” Edwards said. “There is a time limit to some of this stuff.”
Edwards criticized what he sees as complacency among parts of the Bitcoin development community. While he acknowledged that some preparatory work has been done, including references to BIP 360, he argued that Bitcoin still lacks a clear migration path for post-quantum signatures and for coins that may remain exposed. “Some of the biggest core developers recently said it’s not even our top 100 priorities,” Edwards said. “And I’m just like, how? For me this is the only priority that Bitcoin should have. Nothing else matters.”
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He said the technical problem is solvable, but not easy. Post-quantum signature schemes can be larger, raising questions about block space, throughput, wallet migration, and the treatment of dormant coins. Edwards also highlighted the unresolved issue of lost coins, including older outputs that could become vulnerable if powerful enough quantum computers arrive before a network-wide transition.
His base case is not that Bitcoin will fail. Instead, he expects growing pressure from institutions, Ethereum’s quantum-readiness work, and Bitcoin-focused companies to eventually force progress. He described any clear signal from major Bitcoin Core contributors that quantum resistance is becoming a serious priority as a potential catalyst. “As soon as there’s any traction from implementing code to improve Bitcoin, I think we’ll reprice higher and this risk goes away,” Edwards said. “If we get traction on quantum, we could have a new all-time high very quickly, I think. If we don’t, we may not get one.”
Bitcoin Metrics Signal Value
Beyond quantum, Edwards said several Capriole metrics pointBitcoin is currently trading in a deep value zone, according to Edwards. He referenced Capriole’s energy value model, which estimates Bitcoin’s fair value at around $115,000—meaning it was trading at roughly a 43% discount at the time of the discussion. He also pointed to low readings across several metrics, including dynamic range NVT, Yardstick, MVRV Z-score, and miner-related indicators.
Still, Edwards emphasized that mining metrics are less important than they used to be. In his view, institutional demand from ETFs and corporate treasuries has become the main force driving supply and demand. He noted that institutional buying has recently turned positive again, while long-term holder supply has started to rise after a long period of selling. He argued that this combination points to seller exhaustion. It also helps explain why Bitcoin has held up despite weak market sentiment.
In the near term, Edwards highlighted $71,000 as a key level and said Bitcoin could move toward $80,000 to $82,000 if current strength continues. However, a weekly or monthly close below $71,000 would challenge that outlook. At the time of writing, BTC was trading at $77,629.
Featured image created with DALL.E, chart from TradingView.com.
Frequently Asked Questions
Here is a list of FAQs based on the statement about Bitcoin potentially reaching a new alltime high quickly if a fix for quantum computing is found as suggested by the founder of Capriole
BeginnerLevel Questions
Q What is quantum computing and why does it matter for Bitcoin
A Quantum computers are superpowerful machines that could in theory break the cryptography that secures Bitcoin If that happens someone could steal your coins or fake transactions
Q Is Bitcoin currently in danger from quantum computers
A No The quantum computers we have today are nowhere near powerful enough to break Bitcoins security Its a future risk not a current one
Q Why would a fix for quantum computing make Bitcoins price go up
A Because the biggest fear about Bitcoin is that quantum computers could destroy it If a fix is found that fear disappears Investors would feel safe again which could trigger a massive price rally to a new alltime high
Q What does alltime high mean in this context
A It means the highest price Bitcoin has ever reached in US dollars in its history
Q Who is the founder of Capriole mentioned in the news
A Charles Edwards is the founder of Capriole Investments a digital asset management firm He often makes predictions about Bitcoin based on technical and macroeconomic factors
Intermediate Questions
Q What specific fix are we talking about for quantum computing and Bitcoin
A The fix is a software upgrade to Bitcoin called quantumresistant cryptography It would replace the current encryption with new math that even a powerful quantum computer cant crack
Q Would a quantum fix require a hard fork of Bitcoin
A Yes likely A hard fork would be needed to upgrade the networks code to support quantumresistant keys This would require broad agreement from miners and users
Q If a fix is found how quickly could Bitcoins price actually hit a new alltime high
A According to Charles Edwards it could happen quicklypossibly within days or weeks The removal of an existential threat would create a huge wave of buying from both retail and institutional investors