The U.S. Department of Commerce has committed over $2 billion to advance quantum computing capabilities, potentially threatening Bitcoin's encryption. This investment aims to develop infrastructure capable of breaking encryption systems used by Bitcoin, Ethereum, and other internet protocols. IBM is set to receive $1 billion to establish a quantum-level wafer fabrication facility, while GlobalFoundries will receive $375 million. The remaining funds will be distributed among seven other quantum hardware companies.
U.S. Allocates $2 Billion to Quantum Computing, Posing Threat to Bitcoin Encryption
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