Bitcoin Faces 20% Quantum Risk Discount by 2028, Capriole Founder Says

On 21 February 2026, Capriole Fund founder Charles Edwards argued that Bitcoin's fair value should already be marked down by about 20% to reflect the rising threat from quantum computing. He warns that if the network fails to transition to quantum-resistant cryptography, a future "Q-Day" could expose 20–30% of the supply to theft and forced selling, potentially driving much steeper valuation discounts in the coming years.