Galaxy Digital research analyst Will Owens says the quantum computing threat to Bitcoin investors is genuine but unevenly distributed, with most wallets currently remaining out of danger. In a report published Thursday, Owens outlined how a sufficiently advanced quantum computer could theoretically derive private keys from public keys, enabling an attacker to impersonate a wallet owner, forge transaction signatures, and steal funds. Despite the theoretical danger, he stressed that the risk is not uniform across all wallets.
According to Owens, funds are only at risk when public keys are exposed on-chain. This creates two distinct categories of vulnerable wallets: those whose public keys are already visible on the blockchain, and those whose public keys become exposed at the moment a transaction is made. Wallets that have never broadcast a public key to the network are considered safe under current conditions.
The broader debate over quantum computing’s threat to cryptocurrency has circulated within the community for years. Critics of the threat assessment argue that the technology capable of breaking modern encryption remains decades away from practical use, and that financial institutions and other high-value traditional targets would be compromised long before Bitcoin. Owens acknowledged this perspective but did not dismiss the longer-term concern.
Owens also addressed criticism that Bitcoin Core developers have been dismissive or obstructive toward quantum-related proposals, including the soft fork proposal known as BIP 360. After reviewing developer activity, he concluded the opposite, noting that the pace of relevant proposals has accelerated meaningfully since late 2025. He described finding substantial developer work focused on identifying quantum vulnerabilities and potential mitigations, contradicting claims of negligence or gatekeeping.
Others in the cryptocurrency space have also proposed interim measures. Veteran analyst Willy Woo suggested last November that holding Bitcoin in a SegWit wallet for approximately seven years could serve as a protective measure until a more permanent post-quantum solution is developed. Such suggestions reflect a broader effort within the community to manage risk in the absence of a finalized technical fix.
When a post-quantum solution does emerge from the developer community, Owens cautioned that implementing it will not be straightforward. Bitcoin operates without a chief executive, a governing board, or any central authority capable of mandating a software update, making coordinated upgrades inherently complex. However, he argued that the nature of the quantum threat — external, technical, and affecting all network participants equally — creates a rare alignment of incentives across miners, holders, and exchanges, all of whom share a direct financial interest in preserving network security.
Originally reported by CoinTelegraph.
