Asia Morning Briefing: Saylor Dismisses Quantum Threat to Bitcoin, Circle IPO Highlights Stablecoin Mystery
Michael Saylor: Quantum Computers No Match for Bitcoin
Bitcoin will ultimately adapt to quantum computing threats through routine software upgrades, according to MicroStrategy co-founder Michael Saylor. Speaking on CNBC, Saylor dismissed the looming quantum risk as more marketing hype than legitimate concern.
“Bitcoin is software—it upgrades regularly,” Saylor said. “When the time comes, it’ll adopt quantum-safe encryption like every other tech platform. There’s no existential crisis here.”
His comments come in response to growing industry debate over whether quantum computers—capable of breaking classical encryption—pose a real risk to Bitcoin’s security model. BlackRock recently flagged the technology as a potential crypto threat.
Saylor was blunt in his assessment of the narrative:
“It’s mostly coming from people selling you the next quantum yo-yo token,” he said. “No one—Google, Microsoft, or even the U.S. government—has any incentive to release a machine that breaks global cryptography. That would collapse the entire internet.”
Nonetheless, there are real discussions underway. One Bitcoin developer has proposed a Bitcoin Improvement Proposal (BIP) that would hard fork the network, migrating wallets to quantum-resistant addresses. Startups like BTQ are also working on quantum-proof hardware for PoW-based blockchains.
Saylor argues phishing remains a far more immediate threat to Bitcoin than hypothetical quantum attacks. Not everyone agrees. A recent Presto Research report warns that the crypto industry remains “unprepared” for the post-quantum era.
Yet with BTC trading above $104,000, nearing all-time highs, markets appear unconcerned.
Stablecoin Payments? Circle’s IPO Shows the Data Gap
Circle (CRCL) surged in its U.S. public debut, closing Friday above $107, far exceeding its $69 opening. While the IPO has drawn attention to the stablecoin space, one key question remains: how much are stablecoins actually used for payments?
On-chain data shows the stablecoin market cap at $254 billion, according to CoinGecko, but transactional volume figures are murkier. A recent analysis from Castle Island Ventures’ Nic Carter highlights the discrepancies:
- A top-down estimate from Visa and Allium puts annual stablecoin volume at $9 trillion, but that includes trading and DeFi settlements—not just payments.
- Fireblocks, a crypto custody provider, reported $232 billion in payment-related flows, compared to $2.1 trillion in trading activity—just over 10% of total usage.
- A joint study by Artemis and Dragonfly estimates annual stablecoin payments at $72.3 billion, based on a sample of 20 providers—a likely undercount.
Circle itself doesn’t break out USDC payment figures in its filings, only citing general transaction volumes.
Other Headlines:
- BiT Global, Coinbase Settle Over wBTC Delisting: Lawsuit dismissed with prejudice; each side to cover own legal costs.
- Gemini Files for Confidential IPO: Winklevoss-backed exchange teams up with Goldman Sachs and Citigroup. Valuation details pending.
Markets Snapshot (as of 9/6/2025, 7:00 AM HKT):
- BTC: $105,600.30 — Flat, after bouncing from earlier dip. Exchange inflows by miners raise short-term volatility concerns.
- ETH: $2,534.12 — Firm above $2,500 as BlackRock’s ETH ETF approaches $5B AUM.
- Gold: $3,314.92 — Slightly lower but still on track for weekly gains, buoyed by weak U.S. jobs report.
- Nikkei 225: 37,741.61 (+0.50%) — Opening strong with positive momentum from recent sessions.
