Haciyev Reşit 
The quantum threat that has long been debated in the crypto world is no longer just a theoretical risk. Approximately 30% of Bitcoin’s supply is under serious threat due to the potential attack capabilities of powerful quantum computers. David Duong, a Coinbase executive, recently brought this danger back into focus, warning investors: “A sufficiently powerful quantum computer could drain Bitcoin from some wallets.”
The Quantum Threat Is Becoming Real
The rapid pace of global technological development is introducing new risks for cryptocurrencies. While quantum computers have long been a topic of discussion in scientific circles, they are now beginning to pose a tangible threat to crypto assets. David Duong, Coinbase’s Head of Global Investment Research, stated in a LinkedIn post that what was once a theoretical possibility has now become a structural risk.
In his words:
“No attack is expected in the near term, but the quantum threat is shifting from a theoretical possibility to a structural one. Bitcoin’s long-term security is entering a new phase. Investors are increasingly uneasy about this growing risk. The main issue is that quantum computers could threaten roughly one-third of Bitcoin wallets…”
Why Are One-Third of Wallets at Risk?
In Bitcoin’s early wallets, public keys are visible on the blockchain. With today’s technology, it is not possible to derive private keys from these public keys. However, a sufficiently powerful quantum computer could theoretically perform this task. As a result, older wallets—accounting for about one-third of Bitcoin’s total supply—could become prime targets. If these wallets were compromised, a massive amount of Bitcoin could be put at risk, potentially causing severe market disruptions.
Duong also highlighted a second potential threat: quantum computers could mine Bitcoin far more efficiently than classical machines. This could disrupt the network’s incentive structure and create serious imbalances in mining operations. However, according to Duong, this risk is more indirect and less severe compared to the direct threat to wallet security.
Bitcoin’s Future and Quantum Countermeasures
The advancement of quantum computing forces Bitcoin and other crypto assets to rethink their security foundations. Investors and developers are increasingly focused on securing legacy wallets and developing new protective mechanisms against quantum attacks. Bitcoin’s long-term safety may ultimately depend on the adoption of quantum-resistant cryptographic algorithms and future upgrades to blockchain technology.
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