Quantum Computing Risks Critical for Bitcoin's Global Adoption
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 15h ago
0mins
Source: Benzinga
- Quantum Computing Risks: Analyst Willy Woo stated that addressing quantum computing risks is the most critical step for Bitcoin's global adoption, particularly as investor confidence in this nascent asset is hampered by quantum uncertainty.
- Investor Sentiment: Woo emphasized that while some argue the quantum threat is 20 years away, investors typically think in 5 to 15-year horizons, necessitating immediate action to enhance Bitcoin's appeal.
- Gold vs. Bitcoin: Woo noted that countries like China are accumulating gold amid rising economic and geopolitical risks, indicating that Bitcoin must fulfill its intended purpose in the future to match gold's reputation.
- Need for Technological Deployment: The latest initiatives from Ethereum creator Vitalik Buterin and Coinbase Global Inc. highlight the urgent need for the swift deployment of quantum-resistant technology to ensure long-term cryptographic safety, despite the potential decade-long timeline for upgrading Bitcoin.
Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for COIN is 361.63 USD with a low forecast of 230.00 USD and a high forecast of 440.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 213.480
Low
230.00
Averages
361.63
High
440.00
Current: 213.480
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the cryptoeconomy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. Its platform helps people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and global transfers. It offers products and services to various customer groups: individuals, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime Trading, markets, base protocol and Coinbase wallet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
