Quantum Computing No Immediate Threat to Bitcoin, Says Tether Chief; Lost Coins May Re-Enter Market

Tether CEO Paolo Ardoino predicts bitcoin users will transition to quantum-resistant addresses long before advanced computers pose a genuine threat to its cryptography

Tether (USDT) CTO Paolo Ardoino has downplayed the immediate threat posed by quantum computing to Bitcoin (BTC), expressing optimism that users will transition to quantum-resistant addresses before advanced computers can crack the network’s cryptography.

However, Ardoino noted that millions of coins lost in early Bitcoin wallets — including those potentially belonging to Satoshi Nakamoto — could face risks.

In a series of posts on a Bitcoin forum, Ardoino stated that quantum computing is “very far” from endangering Bitcoin’s security protocols. He anticipates that developers will integrate quantum-resistant address standards into the network preemptively, allowing users to migrate funds securely.

“All people alive (and that have access to their wallets) will move bitcoin into new quantum-resistant addresses,” he said.

Bitcoin’s earliest address type, Pay-to-Public-Key (P2PK), introduced in 2009, is uniquely vulnerable. These addresses expose users’ full public keys, akin to handing over your house key directly, heightening privacy and quantum risks. While later protocols like P2PKH improved security, dormant P2PK wallets could become targets if quantum decryption advances.

Bitcoin creator Satoshi Nakamoto is estimated to have mined around 1.2 million BTC in the early days of the network. These coins remain unspent and are spread across 50 early wallets, the largest of which holds 92,000 BTC. Notably, these wallets use the P2PK address format, making them vulnerable to quantum attacks.

Ardoino suggests that inactive wallets, particularly those tied to lost keys or deceased owners, could be compromised as well, reintroducing coins to circulation.

“If quantum decryption comes, then all bitcoin in old wallets (those that people lost the keys for, or the owner died without passing the keys, etc) will be back in the market,” he said.

The transition to quantum-resistant systems would likely mirror past Bitcoin upgrades, requiring broad community consensus. Ardoino’s outlook highlights Bitcoin’s adaptability but points out lingering uncertainties around “lost” BTC. With a few million coins reportedly irretrievable or lost, a quantum breakthrough could unpredictably reshape bitcoin’s market dynamics.

In a separate post, Ardoino reiterated Bitcoin’s defining axiom: “Only 21 million bitcoin anyway. Nothing can change that. Not even quantum computing. That’s the real key important message. Bitcoin is the best asset in the world.”