Kevin O’Leary says Bitcoin could eventually reach $1 million, but only if the industry resolves concerns that quantum computing could compromise the cryptography securing the network. Speaking with The Rollup podcast at the Avalanche Summit in New York, the O’Leary Ventures chairman identified Q-Day—the point at which a sufficiently powerful quantum computer could break public-key cryptography—as the key obstacle. Bitcoin traded near $81,177 on September 19, making the target an increase of about 1,132%, or more than 12 times the market price. Glassnode estimated in May that about 6.04 million BTC, representing 30.2% of issued supply, was held at addresses with publicly visible public keys. Google Quantum AI said in March that breaking Bitcoin’s elliptic curve cryptography could require fewer than 500,000 physical qubits, below earlier estimates in the millions. NIST wants vulnerable encryption phased out by 2030 and banned by 2035, while Google has set a 2029 post-quantum migration deadline. O’Leary said institutions would not exceed a 3% Bitcoin allocation until the risk is resolved, while Jefferies strategist Christopher Wood removed a 10% Bitcoin position from his model portfolio over the concern. O’Leary has resumed buying cryptocurrency for the next market cycle, expects Bitcoin to represent 1% to 3% of institutional alternative-asset portfolios, and is watching whether a major stock exchange adopts blockchain technology. He does not expect the CLARITY Act to pass before the midterm elections, while continuing to monitor digital-asset tax and regulatory policy.