$BTC 's situation is a bit absurd right now.

The new SEC chairman just gave Bitcoin the strongest endorsement ever—calling it the "cornerstone of global finance's future." Two years ago, no one would have dared imagine such a statement. The signal that the traditional financial system is about to change is already clear enough. But before the market could even digest this wave of good news, top Silicon Valley VC a16z dropped a heavy blow: quantum computing might break through Bitcoin's current cryptographic system, and if it doesn't upgrade quickly, the consequences are unpredictable.

Two extremes are appearing at the same time. Officially, there's unprecedented support, yet on the technical side, alarm bells are ringing. Even more surreal is the mining cost—right now, it takes $137,800 to mine one Bitcoin, which is more expensive than the market price. Why are miners still doing it? Because they're betting on the future, betting that this thing can truly reshape financial rules. Just look at the real-world context: US housing prices have crushed young people's hopes, economic nihilism is spreading, and Bitcoin has risen 122% in a year. For many, it's not an investment—it's the only lifeline they can grab.

But the quantum threat isn't science fiction. Bitcoin's upgrade mechanism is notoriously slow, and a hard fork could split the community. What's worse are those old addresses that have been dormant for years—millions of Bitcoins are sitting in early wallets whose owners may have long lost contact. These coins are unlikely to proactively upgrade their defenses. Once quantum computers reach the tipping point, these addresses could be hacked en masse, triggering disastrous chain reactions.

Bitcoin is now at a crossroads: either it becomes the infrastructure of the new financial system, or it dies suddenly amid technological leaps. The SEC's statement has given it wings, but a16z's warning has started the countdown. Miners are mining at a loss, young people are making desperate bets, and quantum computers are advancing rapidly in labs... The climax of this drama hasn't arrived yet.

Can it outrun time?