BlockBeats News, March 19th, according to CoinDesk, Galaxy Digital’s Head of Research Alex Thorn stated that the threat of quantum computing to Bitcoin is real but far from a existential crisis, investors should not mistake a long-term technical challenge for an imminent threat.
On the threat side, a sufficiently advanced quantum computer could theoretically derive a private key from an exposed public key, allowing for signature forgery and fund theft. Analysis from Project Eleven, a security firm focusing on digital asset quantum risk, shows that, by the definition of “long-term exposure,” approximately 7 million bitcoins (valued at around $470 billion at recent prices) could be vulnerable, meaning their public keys have been exposed on the chain. However, Thorn emphasized that currently, most bitcoins do not face a direct risk—exposure only occurs in cases of address reuse, custodians taking shortcuts, or funds stored in legacy format addresses.
On the response side, Thorn pointed out that Bitcoin developers are advancing multiple solutions, including introducing new address types that rely on post-quantum cryptography, allowing users to move funds out of potentially vulnerable formats, and proposing a phased restriction plan for “hourglass” dormant coins with permanently exposed public keys. “There’s a lot more progress underway than people realize,” Thorn stated, “developers are actively building the upgrade path.”
As for advice to investors, Thorn stated that quantum risk should be within monitoring scope but should not be a reason to avoid exposure to Bitcoin. “Quantum computing is a potent, potentially disruptive technology, but that doesn’t mean every risk is immediate or insurmountable,” he added. “Bitcoin developers are not turning a blind eye to this, and many are actively advancing related efforts.”
