Quantum attacks could undermine the entire system of public cryptography. Solutions to protect Bitcoin (BTC) are still far from ideal.
Head of Research at Galaxy Digital Alex Thorn stated that quantum attacks are much more dangerous for Bitcoin than experts assume.
How Quantum Computing Threatens BTC
Quantum computers represent an existential threat to Bitcoin. They are capable of breaking BTC's cryptographic protection. In particular, the risks extend to two key elements:
elliptic cryptography (ECC), which is used to create key pairs (public and private).
hash functions like SHA-256, used for mining and verifying transactions.
Currently, experts are developing quantum-resistant cryptographic methods that could protect Bitcoin. However, the timeline for the final creation of such solutions is unknown. Moreover, many doubt their effectiveness.
"The quantum threat is a very serious issue, and the options for protecting Bitcoin are currently worse than people think. It is becoming a matter of national security," Alex Thorn wrote on X (formerly Twitter).
The head of Galaxy’s research department believes that when the threat becomes real, it will be too late to react. His words resonated widely in the community.
What do the crypto experts think
ETF Store President Nate Geraci agreed with Thorn's statements. He also emphasized that Bitcoin, like any technology, has vulnerabilities. As technology evolves, these may become apparent.
"The probability of Bitcoin being hacked is not zero. If it was created, it can be destroyed," the expert added.
Some experts are even harsher. They predict that quantum computing will lead to the collapse of BTC.
"The best time to invest in Bitcoin was before 2020. Now I am actively looking for the next asset similar to Bitcoin," said renowned crypto analyst Nishant Bhardwaj.
Concerns about BTC's vulnerability to quantum computing have intensified due to recent advancements in this field. Diamante founder and COO Chirag Jetani reported that Google’s quantum computers are now operating 241 million times faster than conventional ones.
"A quantum computer with 4,000 qubits will break Bitcoin's encryption in 10 minutes. By 2030, it will take a couple of seconds," he said.
Will Bitcoin survive
Analysts share alarming forecasts. However, many participants in the crypto industry remain optimistic. For instance, Tether CEO Paolo Ardoino believes that quantum computers do not pose a serious threat to Bitcoin's cryptography. In his opinion, quantum-resistant solutions will be implemented in the BTC network long before a real danger arises.
The research company Project 11 also emphasizes that the threat to the Proof-of-Work (PoW) algorithm on which Bitcoin operates will emerge at least in 10 years. Experts suggest that the BTC blockchain will quickly adapt to new realities.
"Bitcoin is absolutely capable of surviving quantum computing. It will be difficult, contentious, and will spark debates, but the network will be updated in time. The last major update was Taproot — post-quantum cryptography will be next," they explained.
Representatives of Project 11 noted that specialists are already developing quantum-resistant algorithms like the NIST standard. Additionally, there are entire libraries for implementing post-quantum cryptography (PQC). However, the application of such solutions is hindered by signature sizes, transactions per second (TPS), and block sizes.
The future of BTC depends on the network's ability to evolve quickly while maintaining a balance between innovation and decentralized philosophy. There is still time to prepare — but action is needed now.