ARK Invest CEO Cathie Wood and financial services company Unchained have warned of a potential threat to 35% Bitcoin. The firm, which recently published a white paper titled "Bitcoin And Quantum Computing," stated that quantum computers could pose a major risk to cryptocurrencies like Bitcoin, currently using cryptography to encrypt financial details. The paper argued that current systems operate in the Noisy Intermediate-Scale Quantum (NISQ) computing era with around 100 logical qubits and shallow circuits, it would require close to 2,330 logical qubit and billions of quantum operations to crack Bitcoin’s cryptography. It also suggested that quantum-resistant cryptography is being developed at a rapid rate. However, the paper concluded that while quantum computing progresses slowly, Bitcoin has time to adapt to the threat.