Strategy plans to launch a Bitcoin security program aimed at addressing threats posed by quantum computing and other future security vulnerabilities, said Executive Chairman Michael Saylor during the company’s earnings call on Thursday.
According to Saylor, the program will work with “the global cybersecurity community, the global crypto security community, and the global Bitcoin security committee” to help coordinate research and responses to those emerging risks.
Vulnerabilities in Bitcoin’s elliptic curve digital signature algorithm (ECDSA), are susceptible to compromise by Shor’s Algorithm as quantum computing advances.
Research estimates suggest approximately 25% of the Bitcoin supply is currently vulnerable; these ‘at-risk’ holdings primarily consist of early P2PK addresses and reused addresses where the public key has already been revealed on the blockchain.
Addressing concerns about quantum computing, Saylor dismissed them as the latest in a long history of “FUD” that Bitcoin has repeatedly overcome. He argued that while such risks should be taken seriously, investors should not panic or rush into premature technical changes that could create new vulnerabilities.
Some analysts warn that quantum-capable computers could emerge between 2027 and 2030, and the crypto ecosystem has begun responding to these concerns, including developer proposals such as BIP 360 designed to implement quantum-resistant features in Bitcoin.
The perceived risks have prompted some investors to take defensive positions. Jefferies analyst Christopher Wood removed Bitcoin from his portfolio, citing quantum threats.
Source: https://cryptobriefing.com/bitcoin-security-program-combat-quantum/
