Growing concerns about the threat of quantum computing are diminishing the long-term appeal of Bitcoin compared to gold, according to analyst Willy Woo.

12 YR TREND BROKEN.

BTC should be valued a LOT HIGHER relative to gold.

Should be. IT'S NOT.

The valuation trend broke down once QUANTUM came into awareness.

Don't read this post if you want to stay high on hopium instead of seeing things as they are. pic.twitter.com/Qa2YKDlRMp

— Willy Woo (@willywoo) February 16, 2026

He noted that markets are already pricing in the risk of a "Q Day" for Bitcoin.

Approximately 4 million "lost" coins (~19% of the total supply) could re-enter circulation if a quantum computer can derive private keys from public ones. This would undermine a key narrative of the asset—its limited supply.

Woo estimated the likelihood of these coins being frozen through a hard fork at around 25%. However, any outcome would create a significant divide between proponents of backward-compatible solutions and those willing to rewrite network rules to protect early balances, he believes.

“This prospect is already being factored into prices as a structural discount to Bitcoin's valuation compared to gold over the next 5-15 years,” the expert noted.

Charles Edwards, founder of Capriole Investments, agreed, adding that Google interest in the search term "quantum computing and Bitcoin" peaked simultaneously with Bitcoin's price highs.

Google interest in "Quantum Computing Bitcoin" peaked when Bitcoin peaked. Evaluation of the risk was at a maxima when price was, resulting in derisking, a leading indicator to price falling. The Quantum threat drove Bitcoin down. The floor interest in quantum risk to Bitcoin is… pic.twitter.com/a7m3Ucq7wr

— Charles Edwards (@caprioleio) February 15, 2026

The expert identified the quantum threat as one of the reasons for the current correction in digital gold.

Nick Carter, a partner at Castle Island Ventures, shares this view. He previously stated that developers' reluctance to acknowledge risks is already putting pressure on the flagship cryptocurrency's price.

In contrast, Benchmark analysts consider such fears to be exaggerated. Blockstream CEO Adam Back expects powerful computers to emerge only in 20-40 years, while _checkonchain creator James Check does not see a connection between this threat and Bitcoin's price.

Meanwhile, the industry is already preparing for the quantum era:

  • The Ethereum Foundation has formed a security team and allocated a $1 million research grant;
  • Coinbase has created an advisory board to assess risks and develop protection strategies;
  • BTQ has launched a Bitcoin testnet resistant to quantum threats.

Recall that in February, Carter predicted a "corporate takeover" of the Bitcoin network due to quantum computing.