IBM has made a significant breakthrough in quantum computing, entangling 120 qubits and demonstrating full multi-qubit entanglement, which could pose a threat to Bitcoin’s encryption. The company’s achievement surpasses Google’s 105-qubit Willow chip, which recently ran a physics algorithm faster than any classical computer. IBM’s research brings us closer to developing fault-tolerant quantum computers that can crack modern cryptography. While still far from posing a real cryptographic threat, this breakthrough increases the vulnerability of 6.6 million BTC worth $767 billion to a quantum attack.
Source: https://decrypt.co/346742/ibms-quantum-120-qubit-breakthrough-bitcoins-encryption-risk