The Google Quantum AI team has announced a major breakthrough in quantum computing, proving that a quantum computer with one million noisy qubits can theoretically break a 2048-bit RSA encryption algorithm after running for a week. This advancement is a 20-fold increase over estimates made five years ago, significantly accelerating the timeline for quantum computers to potentially undermine existing encryption standards. This breakthrough involves innovations such as surface codes, magic state distillation, and efficient algorithms, reducing the required number of physical qubits from 20 million to 1 million. Experts warn that this development poses an existential threat to digital assets like Bitcoin, emphasizing the urgent need for the adoption of quantum-safe cryptographic techniques within approximately five years. These findings highlight the growing threat that quantum risks pose to the security of public key encryption algorithms and underscore the importance of enhancing post-quantum infrastructure to protect wallets and blockchain technology.