Bitcoin faces a future quantum threat, but Bernstein analysts say risks are concentrated in older wallets and exposed keys, and unlikely to cause existential disruption.
Advances in quantum computing could eventually pose a threat to Bitcoin’s cryptographic security, but the risk remains manageable and unlikely to cause existential disruption, according to a new research report by Bernstein.
In the report, the Bernstein team — Gautam Chhugani, Mahika Sapra, Sanskar Chindalia and Harsh Misra — described quantum computing as a “manageable upgrade cycle” rather than an “existential risk.”
Recent breakthroughs, including research from Google showing a significant reduction in the resources required to break modern encryption, have accelerated the timeline for potential threats. However, building quantum computers powerful enough to compromise Bitcoin (BTC) remains years away due to major technical hurdles and high costs.
