Cardano Founder Warns Quantum Computers Could Steal 8 Million Bitcoin by 2030s
Charles Hoskinson has called on the Bitcoin community to act now against the growing quantum computing threat, warning that millions of BTC remain vulnerable.
Cardano founder Charles Hoskinson has issued a stark warning about the threat quantum computers pose to Bitcoin, estimating that more than 8 million BTC could be at risk of theft once the technology matures - potentially as early as the 2030s [1].
In a recent video message, Hoskinson acknowledged Bitcoin as one of humanity's greatest technological achievements, but noted it was created before quantum computing existed, leaving it exposed to this emerging threat [1].
He outlined two potential paths forward for the Bitcoin network. The first, BIP-360, would introduce quantum-resistant protections on new addresses. However, Hoskinson cautioned that lost or unmigrated coins would remain vulnerable - a figure he estimates at around 1.7 million BTC, or roughly 10 percent of circulating supply [1].
The second proposal, BIP-361, is considerably more controversial. It would effectively require all users to migrate to quantum-secure addresses within a set transition period, with old wallets potentially frozen afterward. Supporters argue this is a necessary safeguard, while critics contend it undermines Bitcoin's core principles of self-custody and property rights [1].
Hoskinson declined to publicly endorse either proposal, but made his position clear - the Bitcoin community cannot afford to wait.
Sources
- [1]btc-echo.de
AI-Assisted Content
This article was created with AI assistance. All facts are sourced from verified news outlets.