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09/02/26 06:07 UTC-04

CoinShares: quantum computing will affect only a small portion of bitcoins

A researcher stated that only 10,200 BTC on legacy addresses are under real threat from quantum computers. Bendiksen disagreed with the results of a study conducted in May 2025 by Chaincode Labs analysts Anthony Milton and Clara Shikhelman. According to their estimates, 20% to 50% of bitcoins in circulation are vulnerable to quantum computing.

Bendiksen referred to legacy Pay-to-Public-Key addresses, where public keys remain visible in blockchain records. Approximately 1.6 million BTC are stored on these addresses, representing 8% of the total coin supply, although the vast majority is distributed across more than 32,000 separate outputs, averaging 50 bitcoins each. Gaining access to these assets would require an extremely long time even if quantum computing were successful, CoinShares noted.

Bendiksen clarified that decrypting a public key within 24 hours would require a fault-tolerant quantum computer with 13 million physical qubits, which is roughly 100,000 times beyond the capabilities of the most advanced systems today. To break a key within one hour, a system 3 million times more powerful than existing hardware would be required. Therefore, a real quantum threat to Bitcoin may not arise for at least ten years, Bendiksen believes.

CoinShares opposed taking aggressive measures to prepare for quantum threats, particularly burning coins vulnerable to quantum attacks through protocol changes. Destroying coins belonging to inactive owners would be a gross violation of Bitcoin’s core principles, CoinShares stated. The company recommended a gradual transition to quantum-resistant address formats rather than rushed changes that could lead to critical errors and wasted development resources.

Recently, Bits.media published a detailed article about threats posed by quantum computers, post-quantum scenarios for Bitcoin, and solutions that various blockchain projects may use to respond to these challenges.

See also: "Mining Company Stocks Plunged After Earnings Reports"

#Bitcoin (BTC) #Mining

Editor: Yulia Krasnaya
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