CoinShares: Bitcoin quantum vulnerability is not an imminent crisis and the risk is manageable.

According to a CoinShares report, the possibility of a practical quantum computer has sparked debate about its potential security implications for Bitcoin. The Bitcoin quantum vulnerability is not an imminent crisis, but rather a foreseeable engineering problem with ample time to address. Technically, the quantum risk primarily stems from the possibility that Shor's algorithm could crack ECDSA or Schnorr signatures, thereby exposing private keys. The approximately 1.7 million Bitcoins potentially affected by early P2PK addresses, representing about 8% of the total supply, are unlikely to cause a systemic market shock in the short term. Claims of 25% supply being at risk are considered significantly exaggerated, and the risk can be mitigated through address migration. Long-term attacks are theoretically feasible within the next decade, but short-term attacks that could crack private keys in mempools within 10 minutes remain impractical for decades to come. The potential influx of approximately 10,000 Bitcoins due to private key leaks would have a limited impact on the price system. Holders can proactively migrate to secure addresses. The remaining targets are scattered across approximately 34,000 addresses, and even with a breakthrough in quantum technology, a full-scale attack could take decades.