Blockspace: Google's Quantum Bitcoin, Fold credit card, and Bitcoin Volatility Index

CoinDesk Podcast Network1h 20mApril 2, 2026

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AI-Generated Summary

The BlockSpace Live episode dives into a high-stakes week in crypto, beginning with Google's groundbreaking research paper suggesting quantum computing threats to blockchain security could emerge as early as 2029—reducing the required qubits from billions to just 500,000. Hosts Charlie and Colin unpack the technical and philosophical implications, highlighting the growing debate around Bitcoin’s ability to adapt in time. The conversation shifts to real-world financial dynamics, with Brian Harrington, a reformed Bitcoin maximalist, arguing that Bitcoin is now a mainstream asset replacing bonds and stablecoins replacing ACH networks, while cautioning that most holders are unprepared for volatility. Will Reeves of FoldOn discusses the launch of their Bitcoin credit card, emphasizing how it enables users to live with Bitcoin daily while using it to reduce fiat dependence through strategic rewards and debt management. The episode then examines the financial struggles of Bitcoin treasury firms, spotlighting NACA’s $166 million loss and Fold’s strategic decision to sell Bitcoin to eliminate debt and fund growth. Finally, Cole Kennelly of Volmex Finance explains the rise of the BVIV volatility index, a Bitcoin equivalent of the VIX, which is gaining traction amid increased institutional adoption and post-ETF market evolution. The episode closes with CoinShares going public on NASDAQ, marking another milestone in crypto’s institutionalization.

Key Takeaways
1

Google’s new quantum research suggests blockchain security threats could emerge by 2029, reducing qubit requirements from billions to 500,000—sparking urgent debate on Bitcoin’s ability to adapt.

2

Bitcoin is transitioning from a speculative asset to a core financial instrument: replacing bonds, enabling new payment rails via stablecoins, and becoming a personal finance tool for affluent holders.

3

FoldOn’s Bitcoin credit card allows users to earn rewards, pay off balances with appreciated Bitcoin, and reduce fiat exposure—offering a low-risk, high-efficiency path to Bitcoin accumulation.

4

Many Bitcoin treasury companies are pivoting from pure holding strategies to building real operating businesses, with Fold and NACA exemplifying the shift from 'paper Bitcoin' to sustainable revenue models.

5

The BVIV volatility index is emerging as the standard for Bitcoin market fear and opportunity, now trading at 60—four times higher than the traditional VIX—driven by post-ETF institutional demand and options growth.

Chapters
0:00
10 min

Google's Quantum Threat Paper: Is Bitcoin at Risk by 2029?

We're making progress on that. But the real issue is, is that this is all theoretical. We need to then build a quantum computer and then we have this problem called decoherence.

Highlight
10:00
15 min

Bitcoin as a Financial System: From Maximalism to Mainstream

I don't believe in self custody anymore. I think it's dumb. And so that Fidelity is going to figure it out for me because I hold all my Bitcoin at Fidelity.

Highlight
25:00
20 min

FoldOn’s Bitcoin Credit Card: Living with Bitcoin Daily

The more Bitcoin you buy with us, the higher your reward rate goes. So because I'm converting most of my paycheck, you know, I'm getting serious rewards. I'm getting 3% back on my spending.

Highlight
45:00
38 min

The Collapse of the Bitcoin Treasury Narrative

It's very easy to find companies that have developed, created great businesses that have built great treasuries. But going the other way is very rare.

Highlight
1:23:20
42 min

The Rise of the BVIV: Bitcoin’s VIX for the Volatility Era

BVIV is currently about 60. And so, you know, 15 to 60, you can say BVIV is about four times greater in terms of volatility points as the VIX index.

Highlight
High-Impact Quotes
I don't believe in self custody anymore. I think it's dumb. And so that Fidelity is going to figure it out for me because I hold all my Bitcoin at Fidelity.
Brian Harrington17:09
Viral: 90.0
BVIV is currently about 60. And so, you know, 15 to 60, you can say BVIV is about four times greater in terms of volatility points as the VIX index.
Cole Kennelly66:19
Viral: 88.0
We're making progress on that. But the real issue is, is that this is all theoretical. We need to then build a quantum computer and then we have this problem called decoherence.
Charlie7:47
Viral: 85.0
Speakers

Hosts

CharlieColin

Guests

Brian HarringtonWill ReevesCole Kennelly
Topics Discussed
Quantum Computing Threats to Blockchain95%Bitcoin as a Financial Asset Class90%Crypto Credit Cards and Financial Integration88%Bitcoin Volatility Indices and Derivatives87%Bitcoin Treasury Companies and Business Model Shifts85%Post-ETF Market Evolution82%Institutionalization of Crypto Markets80%Self-Custody vs. Custodial Solutions75%
People & Brands

Bitcoin

other

45xPositive

FoldOn

organization

18xPositive

BVIV

other

15xPositive

Brian Harrington

person

15xPositive

Nakamoto

organization

14xNegative

Will Reeves

person

12xPositive

Volmex Finance

organization

12xPositive

Cole Kennelly

person

10xPositive

NACA

organization

10xNegative

CoinShares

organization

8xPositive

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