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VanEck CEO: "Will withdraw investment entirely if Bitcoin's fundamental logic collapses"
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Summary
- VanEck CEO said he would withdraw investment if the fundamental logic of Bitcoin collapses.
- He mentioned community debates over Bitcoin's limitations related to quantum computers and privacy.
- He said some investors are turning their interest to tokens like Zcash(ZEC) that offer enhanced privacy.
Amid recent debates in the Bitcoin(BTC) community over quantum computers and privacy issues, VanEck, one of the asset managers that operates a spot exchange-traded fund(ETF), said it would withdraw its investment if the fundamental logic of Bitcoin's technology collapses.
On the 22nd (Korean time), according to BeInCrypto X (formerly Twitter), Jan van Eck, VanEck's chief executive officer(CEO), said in an interview with CNBC, "If the fundamental limitations of Bitcoin's technology are revealed, we may leave Bitcoin."
The VanEck CEO referred to debates about Bitcoin's weaknesses related to quantum computers and privacy. He said, "There is an ongoing debate in the community about whether Bitcoin can provide sufficient cryptographic protection against the threat of quantum computers and whether the anonymity of transactions is sufficiently guaranteed," adding, "Everyone has realized that transactions are publicly recorded on the Bitcoin blockchain and that peer-to-peer fund transfers can be tracked. Recently, some Bitcoin investors have been turning to tokens like Zcash(ZEC), which offer enhanced privacy."
