Digital asset manager CoinShares dismisses concerns that quantum computers could soon shake the Bitcoin market. Bitcoin research leader Christopher Bendiksen states that only 10,230 out of 1.63 million BTC are held in wallets exposed to quantum attacks with publicly known cryptographic keys. Of these, 7,000 are in wallets between 100-1,000 BTC, and 3,230 in 1,000-10,000 BTC wallets; equivalent to 719.1 million dollars at current market prices. In the last 15 hours, BTC rose 15% from 60,000$ to 68,000$+, currently at 70.302$ level (+1.43%). Garrett Jin deposited 5,000 BTC (351 million $) to Binance, showing market confidence.
Split of quantum-vulnerable Bitcoin across various holding sizes. Source: CoinShares
How Real is the Bitcoin Quantum Risk?
- Exposed BTC: Total 10,230 wallets, ~719M$ worth
- Remaining 1.62M BTC: In wallets under 100 BTC; in the most optimistic scenario, unlocking takes a thousand years
- Shor/Grover algorithms can break elliptic curve signatures but 21M supply cap and proof-of-work are unaffected
Satoshi-era UTXOs are at risk; the community is divided on a quantum-resistant hard fork. While Michael Saylor and Adam Back find the threat exaggerated, Charles Edwards calls for an urgent upgrade. Systems like Google Willow (105 qubits) are insufficient for attacks requiring millions of fault-tolerant qubits.
Source: Dom Kwok
Critical Support and Resistance Levels for BTC
RSI 33.44 (oversold), downtrend. For detailed BTC analysis:
- Supports: S1 65.924$ (Strong, -6.23%), S2 60.000$ (Strong, -14.65%)
- Resistances: R1 70.897$ (Strong, +0.85%), R2 74.154$ (+5.48%)
BTC futures can increase volatility.
Frequently Asked Questions About the BTC Quantum Threat
When will quantum computers break BTC wallets?
It could take a thousand years; current tech is insufficient.
Will Bitcoin supply be affected by quantum?
No, PoW and 21M cap are safe.
Is a hard fork necessary?
Community is divided; Saylor says it’s exaggerated.
Source: https://en.coinotag.com/will-the-quantum-threat-shake-bitcoin-coinshares-analysis
