Is Google’s (GOOG) new quantum chip a Bitcoin and NVDA killer?

EMJ Capital founder and president Eric Jackson discussed the potential for Alphabet’s (GOOG) new quantum computing chip Willow, which could be a potential Bitcoin and Nvidia killer earn money. Here’s what he thinks about the new chip:

As excited as people have been about artificial intelligence over the past year, quantum is just the next level of that interest, Jackson claims. Quantum computing is the next leap in technological advancement, offering more powerful calculations, more powerful computers, faster solutions than one can imagine, and problem-solving capabilities that go beyond the reach of traditional computers.

High angle view of a semiconductor chip in front of an array of electronic components.

When asked about the potential threat that quantum computing poses to Bitcoin, although not immediate, Jackson reiterates that the threat lies in encryption. He pointed out that today’s encryption methods such as RSA are based on complex mathematical formulas that are secure compared to traditional computers. Let’s take Bitcoin: no one would have thought that these things could be penetrated, which led to its rise to $100,000.

However, quantum holds the theoretical potential to penetrate into these things. Jackson warns that crypto wallets could be hacked using quantum technology in the future. However, the risk is not just limited to crypto wallets and the billions of Bitcoins around the world. Companies, industries and banks should all be concerned about the sensitive data that could be at stake.

Combined with the fact that Google just dropped a chip out of the blue, this just shows how quickly quantum technology is accelerating and requires immediate attention to security and investment in the quantum industry. Jackson highlighted two names he likes in the quantum space: Rigetti (RGTI) and D-Wave (QBTS). Both names have seen big gains, rising an estimated 300% in the last month.

Jackson claims that both are trying to build chips that are as good or better than Google and that there is a lot more investment going into this space, so investors should pay attention to these names. Jackson also highlighted a smaller company called BTQ that deals with what he calls “post-quantum crowdstrike” and whose job it is to defend all of these crypto wallets and their sensitive data.

Despite his skepticism, Jackson believes the market is recognizing the immense potential of quantum computing. While it may take some time to believe in the rapid rise of AI, quantum technology is here to stay. Investing early could position yourself to benefit from the enormous bull market ahead.

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