Galaxy: Quantum Computing Poses Real Threat to Bitcoin But Not an Urgent Crisis, Approximately 7 Million BTC in Long-Term Exposure

Alex Thorn, Research Director at Galaxy Digital, points out that quantum computing poses a threat to Bitcoin, but it is not currently urgent, and investors need not panic.

Approximately 7 million BTC are at long-term risk, but current quantum computing capabilities cannot break them, and developers have proposed multiple countermeasures.

According to Gate News, on March 19, Alex Thorn, Research Director at Galaxy Digital, stated that while quantum computing does pose a real threat to Bitcoin, it does not currently constitute an imminent crisis, and investors should not mistake this long-term technological challenge as a reason to immediately avoid Bitcoin.

Thorn points out that current risks are limited to specific addresses with exposed public keys on-chain, including reused addresses, addresses held by certain custodial institutions, and assets in legacy address formats.

Analysis by security firm Project Eleven shows that approximately 7 million BTC (worth approximately $470 billion at recent prices) are in this state of "long-term exposure," but remain secure under current quantum computing capabilities.

Regarding countermeasures, developers have advanced multiple solutions, including introducing new address types based on post-quantum cryptography, an "hourglass" mechanism that restricts spending rights on addresses with permanently exposed public keys, and a phased upgrade path that fundamentally reduces public key exposure in transaction broadcasts.