Benchmark report: The Bitcoin quantum threat is a long-term manageable risk, no need to panic.

PANews reported on January 30th that, according to The Block, Wall Street research firm Benchmark released a report arguing that the threat posed by quantum computing to Bitcoin is "long-term and manageable," refuting growing panic in the market. Analysts pointed out that while quantum computing does pose a theoretical vulnerability to Bitcoin cryptography, an actual attack is likely to take "decades rather than years," giving the network ample time to upgrade and respond. Theoretically, only Bitcoins in addresses with exposed public keys (such as those reused or early "Satoshi-era" wallets) are at risk, not the entire supply. The report cites estimates from some researchers that such vulnerable addresses may hold between 1 million and 2 million Bitcoins, a more conservative estimate than the approximately 7 million some have suggested.

There is a significant divergence of opinion within the industry regarding the timeline of the threat: venture capitalist Chamath Palihapitiya predicted the threat could emerge within the next two to five years, while long-time Bitcoin contributor Adam Back believes the risk may not materialize for another 20 to 40 years. The Benchmark report emphasizes that the Bitcoin network is not static; it has addressed substantial risks in the past through upgrades such as Taproot, and the transition to quantum-resistant algorithms is expected to follow a similar gradual path.