Quantum Computing Is Already Hitting Bitcoin—Here’s How

Quantum computing (QC) is starting to impact Bitcoin, not through immediate decryption, but by influencing institutional investment decisions due to long-term cryptographic risks. Strategists like Christopher Wood of Jefferies are reducing Bitcoin exposure, citing concerns that QC could eventually break the Elliptic Curve Digital Signature Algorithm (ECDSA) keys, undermining Bitcoin's store-of-value thesis. Research suggests that 20-50% of circulating Bitcoin addresses, holding potentially hundreds of billions of dollars, are vulnerable due to key reuse. This risk is amplified by Bitcoin's decentralized nature, which complicates the necessary, slow coordination required for a quantum-safe upgrade, unlike centralized financial systems. While some institutions, like Harvard, are increasing allocations, the growing shadow of this existential threat is causing divergence in portfolio strategies and forcing the network to confront a major technical challenge.

(Source：BeInCrypto)