Jan van Eck, the CEO of VanEck, has expressed concerns regarding the vulnerability of Bitcoin’s encryption to quantum computing. He stated that if the foundational security of Bitcoin were to falter, his firm would reassess its investment in the cryptocurrency. Van Eck emphasized the strong position of Bitcoin in portfolios and urged investors to adopt a dollar-cost averaging approach during market downturns while foreseeing a significant bearish trend ahead.

“There is something else going on within the Bitcoin community that non-crypto people need to know about,” van Eck told CNBC.

Translation: “There is something else going on within the Bitcoin community that non-crypto people need to know about.”

Van Eck pointed out that many Bitcoin enthusiasts are turning to Zcash (ZEC) to enhance their transaction privacy. The demand for privacy tokens has surged, with Zcash witnessing a growth of over 1,300% recently. Furthermore, cryptographer Adam Back noted that Bitcoin is unlikely to face immediate threats from quantum computing, with significant risks emerging in two to four decades.

Van Eck noted that Bitcoin ‘for sure’ should be part of investor portfolios due to its mainstream adoption and liquidity. He elaborated on Bitcoin’s cyclical nature, suggesting that pre-positioning for market corrections is prudent. Bitcoin has seen a decline of over 30% from its all-time high earlier this month but showed signs of recovery with trading around $88,000.