Coinbase's Quantum Warning on Bitcoin: One Third Vulnerable

In recent days, as discussions around Bitcoin (BTC), one of the prominent assets in the cryptocurrency market, have intensified, the statements of David Duong, the head of global investment research at Coinbase, have revealed a significant development. Duong warned investors that quantum computers may pose a threat to Bitcoin's security in the future.

Duong stated that advancements in quantum computer technology could present a serious risk to Bitcoin in the long run. He emphasized that this risk arises not from mining, but from the security of digital signatures. Duong expressed that some wallets on the Bitcoin network have publicly visible public keys because of past transactions, and noted that this situation could create a security gap with the emergence of sufficiently powerful quantum computers.

Contrary to popular belief, Duong indicated that quantum computers will not impact Bitcoin mining in the short term, explaining that the real danger arises from the potential to solve cryptographic signatures. In this context, the fact that Bitcoin held in wallets with exposed public keys could be under threat should cause concern for investors. Duong pointed out that approximately one-third of the circulating Bitcoins have publicly visible public keys due to previous expenditures, stating that this situation increases the likelihood of these assets being attacked in the future.

As the topic evolves beyond an academic discussion, leading asset managers like BlackRock have explicitly mentioned the risk of quantum computers in the prospectus for their spot Bitcoin ETF product, the iShares Bitcoin Trust. This situation demonstrates that the traditional finance sector acknowledges quantum computers as a threat.

According to experts, this risk does not pose an urgent threat in the short term. However, in the long run, it seems inevitable that the Bitcoin community will need to consider technical solutions such as transitioning to quantum-resistant signature systems. It is important for investors to closely monitor these developments and continuously update their portfolios.