Jan 30 — According to Benchmark, the threat posed by quantum computing to Bitcoin is “long-term and manageable,” pushing back against growing market fears.
Analysts noted that while quantum computing theoretically introduces vulnerabilities to Bitcoin’s cryptography, real-world attacks are likely decades away rather than years, giving the network ample time to upgrade. In theory, only addresses with exposed public keys—such as reused addresses or early “Satoshi-era” wallets—would be at risk, rather than the entire supply.
The report cited researchers estimating that such vulnerable addresses may contain between 1 million and 2 million BTC, a more conservative figure than some estimates of around 7 million BTC.
Industry opinions vary widely on the threat timeline. Venture capitalist Chamath Palihapitiya has suggested the risk could emerge within two to five years, while long-time Bitcoin contributor Adam Back believes it may not materialize for another 20 to 40 years. Benchmark emphasized that Bitcoin is not a static system and has previously addressed material risks through upgrades such as Taproot. A transition to quantum-resistant algorithms is expected to follow a similarly gradual path.