Bitcoin and quantum computing: in 4 days, Coinbase, Google, and the new Quantum Alliance reignited the debate, with a number to back it up: 6.04 M
$BTC (30.2% of the supply) already have their public keys exposed.
The weekโs timeline:
โข 13/10: Coinbase publishes its post-quantum priorities for Bitcoin. We need to start now; migration โcould take years.โ Options: P2MR (BIP-360) and a hybrid 1-of-2 scheme.
โข 15/10: Google Quantum AI publishes โmagic state cultivationโ on its Willow chip in Science: errors reduced by ~40, with 99.99% logical fidelity.
โข 16/10: Nine players (including Keystone, Hacken, and Quantus) launch the Quantum Alliance. Their estimate: 6.04 M BTC exposed. CoinDesk says 6.4 M, Benzinga 6.26 M, but the ballpark remains ~30%.
โข 17/10:
$BTC at $81,478 on Binance (-0.7% over 24 h). The market is pricing in nothing.
The gap remains huge: according to Googleโs March 2026 white paper, breaking secp256k1 (the curve used by Bitcoin and
$ETH ) would require fewer than 500,000 physical qubits. Willow has 105. No existing machine is capable of it.
My take: the near-term risk is political, not technical. The exposed coins include ~1.1 M BTC attributed to Satoshi (CoinDesk), and no one agrees on what should happen to them. Several Alliance members sell post-quantum solutions: take their 2028 timeline with a grain of salt.
Two possible paths:
1. The debate stays technical (BIP-360, Alliance tests), BTC trades on macro factors, with a 24 h range of $80,800 to $82,500.
2. A further reduction in qubit estimates or a formal proposal to freeze coins: fear returns, and security becomes a pricing factor.
Freezing exposed coins that never migrate (an idea raised by CZ and Jameson Lopp, according to CoinDesk): network protection or the end of the promise that โno one can confiscate your BTCโ?
#Bitcoin #PostQuantum