Wall Street Analyst: The Quantum Threat to Bitcoin Is Real but Distant

According to Odaily, Benchmark analyst Mark Palmer stated in a report on Thursday that the threat of quantum computing to bitcoin is real but remains a distant concern, and bitcoin has sufficient time and technical flexibility to upgrade. The report points out that bitcoin’s main vulnerability does not lie in the SHA-256 hash algorithm, but rather in the Elliptic Curve Digital Signature Algorithm (ECDSA) used to protect private keys.

Mark Palmer emphasized that there are currently no quantum computers capable of breaking ECDSA, and such technology is not expected to emerge in the next 10 to 20 years. At present, about 1 million to 2 million bitcoins are theoretically at risk of attack, including tokens from the Satoshi Nakamoto era and wallets that have been reused. A certain exchange established a Quantum Advisory Committee this month, marking the industry’s shift from theoretical discussion to institutionalized risk management.