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

Alex Thorn, research director at Galaxy Digital, points out that while quantum computing poses a threat to Bitcoin, it is not currently pressing, and investors need not panic.

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

According to Gate News, on March 19, Alex Thorn, research director at Galaxy Digital, stated that while the threat of quantum computing to Bitcoin is real, it does not currently constitute an imminent crisis, and investors should not misinterpret this long-term technological challenge as a reason for immediate Bitcoin avoidance.

Thorn noted 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 (valued at approximately $470 billion at recent prices) are in such "long-term exposure" status, but remain secure under current quantum computing capabilities.

In terms of countermeasures, developers have advanced multiple solutions, including introducing new address types based on post-quantum cryptography, a "hourglass" mechanism restricting spending privileges for permanently exposed public key addresses, and a phased upgrade path that fundamentally reduces public key exposure in transaction broadcasts.