Asia Opening Note: Saylor Says Quantum Computing No Match for Bitcoin Security

📰 Asia Morning Briefing – Sept. 6, 2025

Saylor Unfazed by Quantum Threat, Circle’s Payment Puzzle, Gemini Eyes Wall Street

🔐 Saylor Says Bitcoin Will Evolve Past the Quantum Era

Quantum computers might be coming—but Michael Saylor isn’t losing sleep over them.

Appearing on CNBC, the MicroStrategy co-founder dismissed the idea that quantum computing poses a near-term threat to Bitcoin’s cryptographic foundations. His message? Bitcoin is adaptable.

“Bitcoin is software,” he said. “It upgrades like everything else. If and when the quantum threat becomes real, the network will evolve.”

Saylor argued that fears around quantum computing are being amplified by opportunists selling “the next quantum yo-yo token,” and cast doubt on any scenario where companies like Google or Microsoft would unleash encryption-breaking machines that would compromise their own security—and the global internet’s, for that matter.

Still, the concerns aren’t unfounded. BlackRock has flagged quantum computing as a long-term risk to crypto. One Bitcoin developer has already proposed a Bitcoin Improvement Proposal (BIP) that would migrate all wallets to quantum-safe addresses through a hard fork. And startups like BTQ are working on quantum-secure hardware to stay ahead of the curve.

Saylor’s take? Phishing is a more pressing concern. And for now, markets seem to agree—BTC remains firmly above $104K.

💸 Circle IPO Renews Questions on Real Stablecoin Use

Circle (CRCL) just pulled off a wildly successful IPO, with its shares jumping above $107. But beneath the excitement lies a lingering question: how much are stablecoins like USDC actually used for payments?

Yes, $254 billion worth of stablecoins are in circulation. That’s public, on-chain data. But usage metrics are far murkier.

A new analysis from Nic Carter breaks down the puzzle:

  • A top-line number from Visa and Allium puts annual stablecoin activity at $9 trillion—but that lumps in trading and DeFi.
  • Fireblocks, a custody firm, reported only $232 billion in verified payments vs. $2.1 trillion in trading—suggesting that payments make up just 10% of the pie.
  • A more focused review by Artemis and Dragonfly pegged real payment activity at just $72.3 billion annually.

And despite going public, Circle’s own filings don’t say how much USDC is actually used for payments—only that transaction volume is growing.

So, while stablecoins are booming, the payment use case still feels like an unanswered question.

⚖️ Coinbase, BiT Global Resolve wBTC Delisting Dispute

After a year-long legal battle, Coinbase and BiT Global have settled their lawsuit over the delisting of wrapped bitcoin (wBTC). The case was dropped with prejudice, meaning it’s permanently closed, and both parties will pay their own legal fees.

BiT Global accused Coinbase of undermining wBTC in favor of its competing token, cbBTC, citing reputational damage. Coinbase defended the decision, pointing to concerns over wBTC’s ties to Justin Sun.

Terms of the agreement were not made public.

📈 Gemini Files Confidential IPO with Wall Street Giants on Board

Crypto exchange Gemini is getting ready to go public. The firm, led by the Winklevoss twins, has filed confidential paperwork with the U.S. SEC and brought on Goldman Sachs and Citigroup as advisors.

Details around valuation or timeline haven’t been disclosed. But in the wake of Circle’s breakout IPO, Gemini appears poised to be the next major crypto-native firm to step onto Wall Street.

📊 Market Snapshot (7:00 AM HKT)

  • BTC: $105,600.30 – Sideways after intraday dip; miner transfers hint at short-term volatility.
  • ETH: $2,534.12 – Holding strong above $2.5K; ETF flows show continued institutional interest.
  • Gold: $3,314.92 – Slight pullback, but set for weekly gains on soft jobs data.
  • Nikkei 225: 37,741.61 (+0.50%) – Opens strong, building on prior week’s momentum.

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