A debate broke out on social media on Saturday about the potential effects of a quantum computer hacking Satoshi Nakamoto’s Bitcoin (BTC) stash and then dumping those coins onto the market.
The debate began when YouTuber Josh Otten shared a price chart of BTC crashing to $3.00 and said that this could happen if a sufficiently powerful quantum computer emerges and steals pseudonymous Bitcoin creator Satoshi Nakamoto’s 1 million BTC and sells them.
“Many OGs would buy the flash crash. The Bitcoin network would survive; most coins are not immediately vulnerable,” long-term Bitcoin holder Willy Woo said.
Source: Josh OttenHowever, there are about 4 million BTC held in pay-to-public-key (P2PK) addresses, including Satoshi’s coins, which show the full public key onchain when coins are spent, making them vulnerable to quantum attacks, Woo added.
Exposing a Bitcoin wallet’s full public key onchain exposes these wallets to quantum attacks in the future because a sufficiently powerful quantum computer could theoretically derive the private key from the public key in the future
Newer types of BTC wallet addresses are not as vulnerable to quantum attacks because they do not expose the full public keys onchain, and if the public key is not known, then a quantum computer cannot generate the paired private key from that data.
Satoshi Nakamoto’s Bitcoin holdings. Source: Arkham IntelligenceThe Bitcoin and crypto communities continue to debate the potential effects of quantum computing on Bitcoin and the encryption technology that underpins cryptocurrencies, with some arguing that quantum computing will be the death of the industry
Related: VanEck boss questions Bitcoin’s privacy, encryption against quantum tech
Bitcoin OG Adam Back says the threat of quantum computers is decades away
Adam Back, an early Bitcoin holder, cypherpunk and co-founder of Bitcoin technology company Blockstream, said that BTC will not face a quantum threat in the next 20-40 years.
Back argued that there is plenty of time to adopt post-quantum cryptography standards, which already exist, before a quantum computer powerful enough to crack modern encryption and cybersecurity standards is built.
Market analyst James Check said that quantum computing does not threaten Bitcoin’s technology because users will migrate to quantum-resistant addresses by the time a viable quantum computer emerges.
The quantum threat poses more of a threat to Bitcoin’s market price because there is “no chance” that the Bitcoin community will agree to freeze Satoshi’s coins before a quantum computer hacks his wallets and puts the coins back into circulation, Check said.
Magazine: Quantum attacking Bitcoin would be a waste of time: Kevin O’Leary
- #Bitcoin
- #Blockchain
- #Altcoins
- #Bitcoin Price
- #Encryption
- #Cryptography
- #Quantum Computing
Add reaction
![]()
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Tether Withdraws 951 BTC Worth $70.47M from Major CEX, Holds $7.2B in Bitcoin Reserves
Tether's BTC reserve address withdrew 951 BTC valued at $70.47 million, part of Q1 2026 purchases. It now holds 97,141 BTC worth around $7.2 billion, making it the fifth-largest BTC wallet with unrealized gains of $2.175 billion.
GateNews2h ago
BTC 15-minute drop of 0.62%: Exchange net inflows and liquidity depletion in sync trigger selling pressure
2026-04-15 14:30 to 2026-04-15 14:45 (UTC), the BTC price’s return over 15 minutes was -0.62%. The quoted range was 73,905.4 to 74,448.0 USDT, with a swing of 0.73%. Market volatility quickly intensified, drawing widespread attention from investors, and short-term trading activity became active.
The main driver behind this unusual movement was BTC net inflows to exchanges. On-chain data shows that during this period, about 6 BTC ($420,690) moved into exchanges, combined with the fact that the market’s overall order book depth has been continuing since February
GateNews3h ago
Bitcoin, Ethereum and Solana ETFs Record Positive Net Inflows on April 15
Gate News message, according to the April 15 update, Bitcoin ETFs recorded a single-day net inflow of 4,566 BTC (approximately $337.41 million) and a 7-day net inflow of 6,753 BTC (approximately $499.04 million). Ethereum ETFs saw a single-day net inflow of 23,405 ETH (approximately $54.37 million)
GateNews4h ago
BTC 15-minute drop of 0.70%: Increased ETF fund outflows and a coordinated sell-pressure trigger from derivatives position adjustments
From 2026-04-15 13:30 to 13:45 (UTC), the BTC price fluctuated within the range of 73,846.3 to 74,415.9 USDT. Within 15 minutes, the return recorded -0.70%, with an amplitude of 0.77%. During this period, market volatility intensified, trading volume and on-chain transfers heated up significantly, and market participants’ risk sensitivity increased.
The main driving force behind this unusual move was a sharp increase in ETF fund outflows. Data shows that on 2026-04-13, U.S. spot Bitcoin ETFs recorded net outflows of -231.7 million dollars, far above the one-week average
GateNews4h ago
Canaan Creative Reports 89 BTC Mining Output in March, Holdings Reach 1,808 BTC
Canaan Creative reported producing 89 BTC in March 2023, with total holdings of 1,808 BTC and 3,952 ETH. The company increased its global mining capacity by over 10 megawatts, reaching a total of 266.3 megawatts.
GateNews5h ago
Strive Raises SATA Dividend to 13%, Adds 27 Bitcoin to Bring Total Holdings to 13,768 BTC
Strive, a Nasdaq-listed bitcoin treasury company, is raising its Series A Preferred Stock dividend to 13.00%. It also acquired 27 additional bitcoins, totaling 13,768 BTC, ensuring dividend payments can be supported for about 19.6 years.
GateNews6h ago
