Crypto community debates quantum threat to Satoshi's 1.1M BTC

The cryptocurrency community is divided over the possibility that Satoshi Nakamoto's estimated 1.1 million BTC could be hacked by quantum computers, Cointelegraph reports. The debate was sparked by YouTuber Josh Otten, who claimed that a breach of Satoshi's holdings could cause the price of Bitcoin to plummet to $3. On-chain analyst Willy Woo noted that approximately four million BTC held in addresses using the Pay-to-Public-Key (P2PK) standard could be potential targets for a quantum attack. However, he explained that even if such a scenario were to occur, the Bitcoin network itself would likely survive, with original long-term holders (OGs) potentially buying during the sharp decline. James Check, lead on-chain analyst at Glassnode, argued that the psychological shock to investors poses a greater risk than the technical vulnerability. He stated that any movement of Satoshi's coins would severely damage market sentiment and trigger a price collapse, adding that it is virtually impossible for the community to agree on preemptive measures for these holdings. In contrast, Adam Back, CEO of blockchain technology firm Blockstream and a prominent Bitcoin maximalist, asserted that a realistic threat from quantum computers is still decades away. He added that post-quantum cryptography already exists, providing ample time to respond.