Quantum threat to $BTC is real but exaggerated
By the time this material was written, quantum computing had advanced significantly. Recently, Google introduced the 105-qubit processor Willow, and Microsoft released the Majorana 1 chip. However, breaking Bitcoin's cryptography will require quantum computers with 1,500 to 3,000 stable qubits, which is currently unattainable.
Quantum computers operate differently from classical ones. They are not just faster, but also capable of instantly solving complex problems, including cryptographic algorithms. BTC, like most other cryptocurrencies, relies on cryptography to secure transactions and wallets. In the event of a sudden breakthrough in quantum computing, addresses using outdated encryption methods would become vulnerable. For example, Satoshi Nakamoto's wallet, which holds about 1.1 million Bitcoins, would be at risk, as well as about 25% of all coins held on reused addresses.
