- The quantum risk to Bitcoin private keys is real, but most wallets are not vulnerable today, according to Galaxy Digital analyst Will Owens.
- Funds are primarily at risk only when a wallet’s public key is exposed on the blockchain.
- Bitcoin Core developers are actively working on solutions, with the pace of proposals accelerating since late 2025.
Will Owens, a research analyst at Galaxy Digital, stated in a Thursday report that the quantum computing threat to Bitcoin investors is a real concern being actively addressed. The theoretical risk involves a quantum computer deriving private keys from public ones to forge signatures and steal coins, according to reports.
However, Owens argued that not all cryptocurrency wallets face equal vulnerability to this sophisticated attack. He clarified that funds become truly at risk only when their associated public keys are visible on the blockchain’s public ledger. This exposure creates two main categories of vulnerable wallets that analysts monitor.
Consequently, wallets where public keys are already visible, and those whose keys are revealed during a transaction, represent the primary targets. The debate over quantum computing’s impact has long simmered within the crypto community as a potential future inflection point, data shows.
Meanwhile, critics contend the threat is overblown, suggesting banking giants and other traditional targets will be cracked long before Bitcoin. Owens countered that contrary to some public criticism, Bitcoin developers are not ignoring the issue, according to his research.
He found substantial developer work is addressing quantum vulnerabilities and mitigations, with proposal activity accelerating meaningfully. Owens noted, “The ecosystem now has a concrete and maturing set of proposals spanning the full problem surface”. Other participants, like analyst Willy Woo, have also proposed potential solutions like using specific wallet types.
When a post-quantum solution is ready, governance will likely present a significant challenge for the decentralized network. Nevertheless, Owens believes the universal nature of the threat aligns incentives for all honest network participants. He concluded, “For investors, the key takeaway is straightforward: the risk is real but recognized, and the people best positioned to address it are working on it”.
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