Citi: BTC particularly vulnerable to quantum computing threats

Bitcoin is particularly vulnerable to the threat of quantum computing due to its conservative governance structure and slow protocol upgrade speed, according to a new analysis. In a report cited by CoinDesk, Citi analyst Alex Saunders noted that public keys exposed on-chain, long-dormant wallets, and early pay-to-public-key (P2PK) addresses are the primary points of weakness. This includes the wallet presumed to belong to Bitcoin's creator, Satoshi Nakamoto. According to recent estimates, approximately 6.5 million to 6.9 million BTC have already exposed their public keys, representing about one-third of the total circulating supply and valued at around $450 billion. Saunders pointed out that in the future, quantum computers could potentially forge transactions or steal funds by restoring private keys before transactions are confirmed. He also warned of "harvest now, decrypt later" attacks, where hackers could collect current encrypted data to decrypt it once quantum technology becomes sufficiently advanced.