As quantum computing becomes increasingly integrated into our lives, it is being described as posing a significant threat to Bitcoin (BTC).
With the quantum threat being discussed frequently lately, analysts say that as quantum technology advances faster than expected, a significant portion of the Bitcoin supply is structurally vulnerable.
Coinbase head of investment research David Duong said that about one-third of the Bitcoin supply is vulnerable to quantum computing attacks.
“Approximately one-third of the Bitcoin supply appears vulnerable to long-term quantum computing attacks due to publicly available cryptographic information.”
At this point, Bitcoin’s long-term security may be entering a new phase.
Duong also warned that the threat of quantum computing is still in its early stages, but that it is approaching faster than the market expects.
At this point, Duong also added that wallets that keep a record of past transactions are particularly vulnerable because their public keys have been exposed.
“The encryption structure of wallets with exposed public keys is relatively vulnerable to brute-force attacks.”
This represents a significant portion of the total Bitcoin supply.
Finally, Duong added that the quantum threat has now evolved from a simple theoretical risk to a structural risk.
*This is not investment advice.
