Ark Invest Finds Over $480 Billion in Bitcoin Vulnerable to Quantum Computing
ARK Invest estimates $483 billion in Bitcoin is potentially vulnerable to future quantum computing attacks.Summary
A new report from ARK Invest suggests that approximately 6.9 million Bitcoin, valued around $483 billion at a $70,000 median price, could eventually be compromised by quantum computing due to vulnerabilities in the Elliptic Curve Cryptography (ECC) used for digital signatures.
The risk is unevenly distributed: about 1.7 million BTC are in older P2PK address formats where the public key is already visible on-chain and cannot be easily moved. An additional 5.2 million BTC are technically vulnerable but could be secured by migrating to newer address formats before quantum capabilities become a reality.
Experts caution that current quantum technology, operating in the NISQ era, does not pose an immediate threat, as breaking Bitcoin's cryptography would require thousands of stable logical qubits. The report frames the issue as a race between quantum technological progress and the Bitcoin ecosystem's ability to implement quantum-resistant upgrades, such as the proposed BIP-360.
(Source：BeInCrypto)