Tether CEO Paolo Ardoino has reassured the crypto community that quantum computing is not an immediate threat to Bitcoin’s security.
He acknowledged, however, that inactive Bitcoin wallets, including those belonging to Satoshi Nakamoto, could become vulnerable as quantum technology progresses. This statement comes after Google announced that commercial quantum computing applications might be available within five years.
In a post on X, Ardoino emphasized that Bitcoin’s cryptographic security is currently safe. He pointed out that while quantum computing poses no serious risk at the moment, it could eventually compromise old wallets with lost keys or those owned by deceased individuals. This includes an estimated 1.2 million BTC linked to Bitcoin’s creator, Satoshi Nakamoto.
Ardoino warned that any Bitcoin in these lost wallets could be hacked and returned to circulation. Nevertheless, he reassured that quantum computing would not affect Bitcoin’s total supply of 21 million coins.
Emin Gün Sirer, co-founder of Ava Labs, shares a similar view. He noted that early Bitcoin transactions used an outdated format called Pay-to-Public-Key (P2PK), which makes public keys more vulnerable to quantum attacks. Sirer suggested a precautionary approach, such as freezing old P2PK-based holdings or setting expiration dates for their use.
Quantum computing, based on quantum mechanics, can perform calculations much faster than traditional computers. This raises concerns about its potential to weaken modern encryption, including that of blockchain networks. Google recently introduced its quantum processor, Willow, which has sparked renewed discussions about the timeline for potential quantum threats.
Experts had previously estimated that such risks were at least a decade away. However, Google’s Quantum AI chief, Hartmut Neven, believes real-world applications could emerge within five years. A powerful quantum computer could theoretically break cryptographic keys and disrupt blockchain transactions.
In response, the crypto industry is preparing countermeasures. Blockchain networks like Solana are developing quantum-resistant cryptography to ensure security keeps pace with emerging threats.
