Galaxy Digital: Quantum Computing Poses a Real but Distant Threat to Bitcoin's Survival

BlockBeats News, March 19, according to CoinDesk, Galaxy Digital's research head Alex Thorn stated that the threat of quantum computing to Bitcoin is real but far from a survival crisis. Investors should not mistake long-term technical challenges for an immediate threat.

On the threat side, a sufficiently advanced quantum computer could theoretically derive a private key from an exposed public key, thereby forging a signature and stealing funds. Analysis from Project Eleven, a security organization focused on digital asset quantum risk, shows that, by the definition of "long-term exposure," about 7 million bitcoins (valued at approximately $470 billion at recent prices) may be vulnerable, meaning their public keys have been exposed on the chain. However, Thorn emphasized that currently most bitcoins do not face direct risk—exposure only occurs in cases of address reuse, shortcuts taken by custodians, or funds stored in old-format addresses.

On the response side, Thorn pointed out that Bitcoin developers are advancing multiple solutions, including introducing new address types based on post-quantum cryptography, allowing users to migrate funds from potentially vulnerable formats, and proposing a "hourglass" phased restriction plan for coins with permanently exposed public keys. "There is much more work underway than people realize," Thorn said. "Developers are actively building the path for upgrade systems."

Regarding advice for investors, Thorn stated that quantum risk should be monitored but should not be a reason to avoid exposure to Bitcoin. "Quantum computing is a powerful, potentially disruptive technology, but that does not mean every risk is immediate or insurmountable," he added. "Bitcoin developers are not turning a blind eye to this, and many are actively advancing relevant work."