Galaxy Digital research analyst Will Owens says the quantum risk to Bitcoin holders is real but uneven: some wallets are exposed while many are not, and experts are actively working on mitigations.
In a recent report Owens explains the technical danger: a sufficiently powerful quantum computer could, in theory, recover a private key from its corresponding public key, allowing an attacker to impersonate an owner, forge signatures and steal coins. Crucially, actual vulnerability depends on whether a wallet’s public key is revealed on the blockchain.
Owens notes that most wallets are not currently at risk because funds become vulnerable only when public keys are exposed on-chain. He identifies two main exposure scenarios: wallets whose public keys are already visible on the blockchain, and wallets whose public keys become visible when the owner spends outputs.
The prospect of quantum attacks on cryptocurrencies has been debated for years. On one side, advanced quantum machines could eventually break widely used cryptographic schemes, potentially exposing private keys, compromising data and enabling theft. On the other, critics argue that practical, large-scale quantum attacks remain many years away and that other, higher-value targets would likely be breached before Bitcoin became a primary victim.
Owens also addressed online claims that Bitcoin Core developers are ignoring or gatekeeping quantum-related proposals such as the soft fork BIP 360. His review found that developer activity on quantum mitigations has accelerated since late 2025, producing a concrete and maturing set of proposals that are under active development, review and debate among experienced contributors.
Industry voices have suggested practical steps to reduce risk in the meantime. Analyst Willy Woo, for example, has argued that holding BTC in a SegWit-style wallet for an extended period can lower quantum exposure because SegWit reduces how often public keys appear on-chain. Other recommended precautions include limiting reuse of addresses and minimizing on-chain public-key exposure when possible.
Owens warns that governance will be a major challenge once a post-quantum solution is ready, because Bitcoin has no central authority to mandate protocol upgrades. Still, he says the universal and technical nature of the threat creates aligned incentives: miners, holders, exchanges and node operators all share a direct financial interest in preserving network security, which should help drive coordinated action.
For investors, Owens summarizes the takeaway simply: the risk is real but known, and the people best positioned to address it are working on solutions.
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