Bitcoin’s long-term security and role in global finance have returned to focus after Jan van Eck, CEO of global asset manager VanEck, questioned whether the cryptocurrency’s encryption can withstand advancements in quantum computing. Speaking on CNBC’s Power Lunch, van Eck said ongoing internal debates within the Bitcoin community have made the future of its encryption one of the most important issues facing the network.
“There’s something else going on within the Bitcoin community that non-crypto people need to know about,” van Eck said. “The Bitcoin community has been asking itself: Is there enough encryption in Bitcoin? Because quantum computing is coming.”
Van Eck stated that while the company remains supportive of Bitcoin’s long-term potential, it will not hesitate to re-evaluate its position if emerging technologies undermine the cryptocurrency’s cryptographic foundations.
“Ultimately, VanEck has been around before Bitcoin. We will walk away from Bitcoin if we think the thesis is fundamentally broken,” he told anchor Brian Sullivan.
The remarks underscore a growing concern among technologists and investors that large-scale, fault-tolerant quantum computers could eventually break existing encryption standards. Researchers such as the University of Texas’s Scott Aaronson have estimated that a quantum computer capable of running Shor’s algorithm, a method for factoring encryption keys, could emerge before the 2028 U.S. presidential election.
TLDR:
— Jan van Eck (@JanvanEck3) November 21, 2025
The bitcoin bear market is being driven by the onchain reality of the halving cycle (bearish for 2026), quantum-breaking-encryption concerns and the better privacy of Zcash.@vaneckpk said it best: dollar cost average into bear markets@vaneck_us https://t.co/T4o8ofDggD
Bitcoiners explore privacy tokens like Zcash as concerns grow
Alongside questions about quantum resilience, van Eck noted a rising trend of Bitcoin veterans experimenting with privacy-focused alternatives.
“Bitcoin ‘OGs and maxis’ have been drawn toward Zcash as they search for stronger transactional privacy,” he said.
Zcash, a cryptocurrency built around zero-knowledge proofs to obscure transaction data, has skyrocketed over 1,300% in the past three months as interest in private digital payments surged. Van Eck described the movement as a reflection of shifting user expectations:
“When you move money around on the Bitcoin blockchain, you can see it,” he explained. “You can see it move from one wallet to another.”
Still, experts such as cryptographer Adam Back have argued that meaningful quantum threats to Bitcoin remain decades away. Back suggested that it will take another “two to four decades” before quantum computers pose authentic risks to elliptic curve cryptography, the cryptographic foundation underpinning both the Bitcoin and Ethereum blockchains.
Probably not for 20-40 years, if then. And there are quantum secure signatures, NIST standardized SLH-DSA last year. Bitcoin can add over time, as the evaluation continues and be quantum ready, long before cryptographically relevant quantum computers arrive.
— Adam Back (@adam3us) November 15, 2025
Cycles, valuations, and investor positioning
Van Eck also addressed the state of Bitcoin’s market cycle, reiterating that current weakness aligns with historical patterns.
“Every four years over the past decade, Bitcoin has had a big negative year, and in 2026 it’s scheduled to have a big negative year,” he said.
The CEO added that institutional investors appear to be pricing in the expected downcycle ahead of time.
He maintains, however, that Bitcoin continues to be a crucial portfolio component.
“For sure, it needs to be included in investor portfolios due to mainstream global liquidity reasons and the onchain reality,” van Eck affirmed.
He encouraged investors to maintain disciplined strategies, adding that dollar-cost averaging is the best way to accumulate during downturns.
Bitcoin, which fell more than 30% since its October all-time high, briefly touched just above $82,000 last Friday before recovering to around $88,000 earlier this week. Despite the retracement, VanEck’s CEO said he remains optimistic about Bitcoin’s long-term store-of-value role, so long as the encryption fundamentals stay intact.
BlackRock: institutions view Bitcoin as digital gold, not a payments network
While VanEck’s concerns center on security and technology, BlackRock’s head of digital assets Robbie Mitchnick offered a more pragmatic perspective on Bitcoin’s use case. In a recent podcast, Mitchnick said major institutional clients no longer view Bitcoin as a future payments infrastructure, calling that vision “speculative” and distant.
He added that institutional investors overwhelmingly see Bitcoin as digital gold, or a long-term store of value. Mitchnick noted that this mindset shift has crystallized as stablecoins, rather than Bitcoin, have taken over the practical payments market.
“Stablecoins are hugely successful,” Mitchnick said. “They move value quickly and efficiently, and their use cases extend well beyond crypto trading and DeFi.”
He predicted that stablecoins will continue expanding into remittances, corporate transfers, cross-border settlements, and even capital market applications, effectively positioning them as the preferred vehicle for digital money movement.
This trend partially aligns with remarks from ARK Invest CEO Cathie Wood, who reduced her 2030 Bitcoin price forecast by roughly $300,000, citing the rapid rise of stablecoins as occupying Bitcoin’s once-anticipated role in global payments
An industry shifting focus
Together, VanEck’s warnings and BlackRock’s insights illustrate how the Bitcoin narrative is evolving. Security threats from quantum computing, shifting adoption patterns, and the growing institutional preference for stablecoins are reshaping how investors evaluate crypto exposure.
While VanEck continues to regard Bitcoin as a key macro asset, technological uncertainties are forcing the industry to confront deeper questions about long-term viability. And as privacy coins like Zcash surge and stablecoins cement their roles in cross-border finance, Bitcoin’s next decade may depend less on speculation, and more on how effectively it can adapt to new technological and monetary realities.
Oleksii Shumak
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