Bitfinex: Quantum computing not an immediate threat to Bitcoin

Cryptocurrency exchange Bitfinex has stated that quantum computing has not yet reached a stage where it can threaten Bitcoin's (BTC) cryptographic systems, according to U.Today. In a post on X, Bitfinex explained that breaking Bitcoin's encryption would require millions of stable qubits and the ability to run "Shor's algorithm" on a large scale, a level far beyond current capabilities. The exchange also noted that community-level discussions on countermeasures are underway, including transitioning to wallet structures that minimize public key exposure, introducing lattice-based signatures, and the BIP-360 proposal. Bitfinex added that if the quantum threat does materialize, it is most likely to do so after the mid-to-late 2030s.