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. He stressed, however, 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 primary 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 chain are considered largely safe under current conditions.
The broader debate over quantum computing’s threat to cryptocurrency has persisted within the community for years. Some critics contend the danger is overstated, arguing that the technology remains decades away from practical viability and that traditional financial institutions would be targeted long before Bitcoin. Owens acknowledged this perspective while maintaining that the risk warrants serious attention and active preparation.
Owens also addressed claims circulating online that Bitcoin Core developers are dismissing or blocking quantum-related proposals, including the soft fork 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 the volume of developer work on quantum vulnerabilities and potential mitigations as substantial, contradicting the narrative of institutional neglect.
Other voices in the industry have also weighed in with proposed approaches. Bitcoin analyst Willy Woo suggested last November that holding Bitcoin in a SegWit wallet over several years could help reduce exposure to quantum-related risks. These proposals reflect a growing recognition that the community needs to begin preparing even if a full solution remains some time away.
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 board of directors, or any central authority capable of mandating a software update, making coordinated upgrades inherently complex. Nevertheless, he argued that the nature of the quantum threat — external, technical, and affecting all participants equally — creates a rare alignment of incentives across miners, holders, and exchanges, all of whom share a direct financial interest in preserving the network’s security.
Originally reported by CoinTelegraph.
