Over 35% of Bitcoin Supply Faces Potential Quantum Risk, New Data Shows
Glassnode reports 35.4% of Bitcoin (7.12M BTC) is at risk from potential quantum computing threats. Exchanges like Robinhood, Binance, and Coinbase hold exposed addresses. Coinbase's CEO has stated they are working on post-quantum upgrades. Satoshi Nakamoto's coins, about 1M BTC, cannot be fixed. The exposed coins are worth over $500B at current prices, but no quantum computers capable of this threat exist yet.
How this was made
The 30-second read
Why it matters
A sizable portion of Bitcoin's supply being at risk could depress demand, increase volatility, and affect related crypto‑related equities.
Market read
First‑time disclosure of large‑scale quantum risk to Bitcoin could drive short‑term bearish sentiment across crypto markets.
What to watch
Potential for rapid upgrades to custodial infrastructure and the low probability of near‑term quantum computers capable of breaking Bitcoin's encryption.
Background
The article introduces new Glassnode data on Bitcoin addresses vulnerable to future quantum computing attacks, citing exposure percentages for major custodians.
Ticker impact
Glassnode reports that 35.4% of Bitcoin supply (≈7.12 million BTC) is vulnerable to quantum attacks, highlighting exposure at major custodians like Binance (85%) and Robinhood (100%).
likely downside pressure as market prices in the quantum‑risk concern
A large portion of supply is tied to major exchanges; new risk perception can prompt margin calls, reduced demand, and short‑selling activity.
Market effects
Crypto custody providers and exchange stocks may face heightened scrutiny and potential de‑listing risk.
U.S. and global crypto markets could see short‑term volatility; Asian exchanges with large BTC holdings may experience similar pressure.
Given Bitcoin's market‑cap dominance, the risk perception can affect broader digital‑asset sentiment worldwide.
Counterpoint
Quantum threats remain speculative; existing post‑quantum research may mitigate risk, limiting price impact.
Key entities
- Analytics FirmGlassnode
Provider of on‑chain data reporting the quantum‑risk exposure.
- Crypto ExchangeBinance
Reported 85% of its Bitcoin holdings are in exposed addresses.
- BrokerageRobinhood
Reported 100% exposure of its Bitcoin holdings.
