Quantum computers will bring lost Bitcoin 'back into circulation'
Tether CEO Paolo Ardoino stated that quantum computers will hack Bitcoin in "lost wallets" and bring it back into circulation — a move that a trader warns could pull Bitcoin back to the "Stone Age".
Tether CEO Paolo Ardoino predicts that quantum computers will eventually hack inactive Bitcoin wallets, bringing the Bitcoin in those wallets back into circulation.
However, he mentioned that this is still a long way off.
Ardoino stated in a post on February 8 on X: "Any Bitcoin in lost wallets, including Satoshi's (if he is no longer alive), will be hacked and brought back into circulation".
Quantum computers will not soon break Bitcoin
He added: "Quantum computers are still a long way from posing a significant risk to break Bitcoin's encryption".
Quantum computers are new technology that can process multiple possibilities and solve complex problems using atomic-level phenomena, which conventional computers cannot handle.
Lost Bitcoin wallets are at higher risk as quantum computers advance because there is no one to protect or move the funds. In contrast, active wallets are more likely to implement quantum-resistant protection when it becomes available.
He explained that all Bitcoin wallets owned by individuals who are still alive and have access to their wallets will be transferred to new "quantum-resistant addresses".
Tether CEO Paolo Ardoino stated that quantum computers will hack Bitcoin in "lost wallets" and bring it back into circulation — a move that a trader warns could pull Bitcoin back to the "Stone Age".
Tether CEO Paolo Ardoino predicts that quantum computers will eventually hack inactive Bitcoin wallets, bringing the Bitcoin in those wallets back into circulation.
However, he mentioned that this is still a long way off.
Ardoino stated in a post on February 8 on X: "Any Bitcoin in lost wallets, including Satoshi's (if he is no longer alive), will be hacked and brought back into circulation".
Quantum computers will not soon break Bitcoin
He added: "Quantum computers are still a long way from posing a significant risk to break Bitcoin's encryption".
Quantum computers are new technology that can process multiple possibilities and solve complex problems using atomic-level phenomena, which conventional computers cannot handle.
Lost Bitcoin wallets are at higher risk as quantum computers advance because there is no one to protect or move the funds. In contrast, active wallets are more likely to implement quantum-resistant protection when it becomes available.
He explained that all Bitcoin wallets owned by individuals who are still alive and have access to their wallets will be transferred to new "quantum-resistant addresses".
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