Analysis: Quantum computing not an immediate risk to BTC

Quantum computing (QC) is a long-term risk to Bitcoin but not an immediate threat, according to a recent report by Ark Invest on-chain analyst David Puell. He argued that even if a quantum system could impact Bitcoin's cryptography, the process would be lengthy and prohibitively expensive for an attacker. Puell noted that current quantum systems cannot neutralize BTC, and any technological advancements would likely affect general internet security before targeting Bitcoin specifically. This suggests a gradual technological evolution rather than a radical shock, a so-called "Q-day." Currently, the BTC exposed to quantum threats includes 1.7 million BTC in addresses presumed to be lost and 5.2 million BTC held in certain vulnerable addresses. However, the network is expected to have time to respond by adopting quantum-resistant cryptography. The key will be how the Bitcoin community implements these quantum-resistant cryptographic systems, he concluded.