Galaxy: The threat of quantum computing to Bitcoin is real, but it does not yet constitute an imminent crisis; developers are already working to address it

According to CoinDesk, Alex Thorn, head of research at Galaxy Digital, stated that the threat of quantum computing to Bitcoin is real, but it does not currently pose an imminent crisis. Investors should not misinterpret this long-term technological challenge as an immediate reason to avoid Bitcoin.

Thorn pointed out that the current risk is limited to specific addresses that have exposed public keys on-chain, including reused addresses, addresses held by certain custodians, and assets in old address formats. Analysis by security firm Project Eleven shows that approximately 7 million BTC (equivalent to about $47 billion at recent prices) are in this "long-term exposure" state, but they remain secure under current quantum computing capabilities.

In terms of countermeasures, developers have advanced several proposals, including the introduction of new address types based on post-quantum cryptography, a "sandglass" mechanism that restricts spending permissions for permanently exposed public key addresses, and a phased upgrade path to fundamentally reduce the broadcasting of public keys in transactions.