Why Quantum Computing Isn’t a Serious Risk for Bitcoin Yet: CoinShares
Quantum computing does not pose an immediate threat to Bitcoin, as current quantum machines are vastly underpowered to break Bitcoin’s cryptography. To crack Bitcoin’s security, an attacker would need quantum computers with millions of qubits—far beyond current capabilities. Theoretical risks exist, especially for legacy addresses with exposed public keys, but these only account for about 8% of Bitcoin’s supply. Even in a worst-case scenario, only around 10,000 BTC might be compromised and liquidated rapidly. Mainstream quantum attacks on Bitcoin are not expected before the 2030s or later. While aggressive network upgrades could improve security, they also create potential risks like software bugs and controversial assumptions about dormant coins. Gradual, voluntary migration to secure address types is preferred. There are clear upgrade paths available should the quantum threat become urgent, so responses should be measured and based on actual technical fundamentals, not speculative fears.
