Galaxy Digital: Quantum computing poses a real threat to Bitcoin, but it is far from being an existential crisis.

According to ME News, on March 19th (UTC+8), Alex Thorn, Head of Research at Galaxy Digital, stated that while the threat of quantum computing to Bitcoin is real, it is far from an existential crisis, and investors should not mistake long-term technological challenges for imminent threats. In terms of the threat itself, a sufficiently advanced quantum computer could theoretically derive a private key from an exposed public key, thereby forging signatures and stealing funds. Analysis by Project Eleven, a security firm focusing on quantum risks in digital assets, indicates that approximately 7 million Bitcoins (worth about $470 billion at recent prices) may be vulnerable under the definition of "long-term exposure," meaning their public keys are exposed on-chain. However, Thorn emphasized that most Bitcoins currently do not face direct risks—exposure only occurs when addresses are reused, custodians use shortcuts, or funds are stored in old-format addresses. In terms of responses, Thorn points out that Bitcoin developers are advancing several solutions, including introducing new address types that rely on post-quantum cryptography, allowing users to migrate funds from potentially vulnerable formats, and proposing an "hourglass"-style phased restriction scheme for dormant coins that permanently expose public keys. "There's much more work being done than people realize," Thorn says. "Developers are actively building paths to upgrade the system." Regarding advice for investors, Thorn states that quantum risks should be monitored, but should not be a reason to avoid Bitcoin exposure. "Quantum computing is a powerful and potentially disruptive technology, but that doesn't mean every risk is immediate or insurmountable," he adds. "Bitcoin developers are not ignoring this; many are actively working on it." (Source: ME)