CryptoQuant Analyzes the Threat Quantum Computers Pose to Bitcoin, Including Satoshi's 1 Million BTC

Ki Young Ju, CEO of cryptocurrency data analytics firm CryptoQuant, highlighted in a research note published on the 18th the potential future threats to Bitcoin's (BTC) cryptographic security due to the advancement of quantum computers. He analyzed that currently, approximately 6.89 million BTC are theoretically at risk of attack.

Bitcoin's security relies on elliptic curve cryptography, which is virtually indecipherable by conventional computers. If quantum computers with sufficient processing power become operational, they could potentially reverse-engineer private keys from public keys already published on-chain. Once a public key is exposed on the blockchain, the risk becomes permanent...