Bitcoin ETFs experienced significant investor interest on September 18, attracting $433 million in net inflows according to latest market data. Fidelity's FBTC led the surge with $310.72 million in inflows, representing 72% of the total daily inflows. BlackRock's IBIT contributed $108 million, bringing the combined contribution from these two major funds to approximately 97% of the day's total inflows. This substantial investment flow comes as institutional confidence in Bitcoin continues to grow despite ongoing quantum computing concerns.
Kevin O'Leary has returned to the cryptocurrency market with renewed confidence, predicting that Bitcoin can reach $1 million if the industry overcomes quantum computing threats. According to recent reports, the O'Leary Ventures chairman expects Bitcoin to capture 1-3% of institutional alternative-asset portfolios, similar to gold's current allocation. As reported by The Rollup podcast, O'Leary spoke at Avalanche Summit in New York, stating that Bitcoin would achieve seven-figure prices if it can resolve doubts about quantum computing breaking the network's encryption. Bitcoin was trading near $81,177 on September 19, which would require approximately 1,132% gains to reach $1 million, representing more than 12 times the current price.
The quantum computing threat is quantified by 6.04 million BTC, representing 30.2% of the issued supply, that currently sit in addresses with visible public keys, according to calculations by Glassnode in May. As reported by Google Quantum AI, breaking Bitcoin's elliptic curve cryptography could potentially require fewer than 500,000 physical qubits, significantly lower than earlier estimates in the millions. The timeline for addressing this risk is accelerating, with NIST wanting vulnerable encryption phased out by 2030 and banned by 2035, while Google has set its own post-quantum migration deadline at 2029.
The quantum computing concerns are already influencing institutional investment strategies. According to reports from The Rollup podcast, O'Leary stated in February that institutions would not go beyond a 3% Bitcoin allocation until quantum risks are resolved. The concern has extended to more conservative positions, with Jefferies strategist Christopher Wood removing a 10% Bitcoin position from his model portfolio over the same quantum computing worries. This institutional caution reflects the broader market's assessment of the potential vulnerability of current Bitcoin infrastructure to future quantum computing capabilities.
