Research shows that the threat of BTC "51% attack" is underestimated, and attackers only need about $6 billion to destroy the network

Odaily Planet Daily reports that recent research indicates that the threat of a "51% attack" on Bitcoin is significantly underestimated by the market, with attackers requiring only approximately $6 billion to destroy the cryptocurrency. Duke University finance professor Campbell Harvey warned in a new study that while both Bitcoin and gold are considered favorites in the "currency devaluation trade," Bitcoin faces far greater risks than gold.

An attacker could seize control of the Bitcoin network within a week by purchasing $4.6 billion worth of hardware, investing $1.34 billion in data center construction, and incurring approximately $130 million in weekly electricity costs. By shorting Bitcoin in the derivatives market, the attacker could reap substantial profits when the price plummets, more than covering the cost of the attack. However, Matt Prusak, president of Bitcoin USA, believes these concerns are overblown. Accumulating and deploying mining equipment takes years, shorting requires substantial collateral, and exchanges may suspend suspicious transactions. (Wall Street Journal)