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World desk4 min

Can Quantum Computers Break Bitcoin and Other Cryptocurrency Wallets?

A future fault-tolerant quantum computer could threaten cryptocurrency signatures, but no such machine exists today. Bitcoin would need a network-level migration; a hardware wallet alone cannot solve the problem.
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Not with any computer available today. A sufficiently powerful, fault-tolerant quantum computer could eventually threaten Bitcoin and other cryptocurrencies that rely on vulnerable public-key signatures. That would be a protocol-level risk—not a flaw that a different wallet app or hardware device can fix on its own.

What could a quantum computer break?

A cryptocurrency wallet controls private keys: secret values used to authorize transactions. In Bitcoin, the relevant signatures are ECDSA and, for Taproot, Schnorr signatures, both based on the secp256k1 elliptic curve. Ordinary computers can derive a public key from a private key, but reversing that calculation is considered infeasible. Shor’s algorithm, running on a sufficiently capable quantum computer, could in principle recover a private key from its public key and undermine either signature type. Chaincode Labs’ 2025 technical report explains this threat.

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This would not mean a quantum computer could simply open every wallet file or guess every seed phrase. The described attack targets the cryptographic relationship between a public key and its private key. Other cryptocurrencies that use vulnerable public-key signature systems may face an analogous risk, but the details depend on each network’s cryptography and how it exposes keys.

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Why exposure of a public key matters

An address is not always the public key itself. Depending on the output type and transaction history, a Bitcoin public key may be hidden behind an address until a spend reveals it, or it may already be visible on-chain. Funds whose public keys are exposed would be more directly targetable by the attack described than funds whose keys have not been revealed. Exposure depends on output type and usage history; the sources here do not establish a reliable, independently checked current total of bitcoin in exposed outputs.

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That distinction affects the shape of the risk, not the present-day urgency: the attack still requires a quantum computer capable of breaking the signature scheme, and no such cryptographically relevant machine exists today according to the 2026 preprint discussed below.

Would quantum computers also let attackers take over Bitcoin mining?

Mining and transaction authorization rely on different cryptographic mechanisms. The signature attack uses Shor’s algorithm against elliptic-curve cryptography; Bitcoin proof of work uses SHA-256 hashing. Grover’s algorithm gives an idealized quadratic speedup for search, not an unrestricted ability to mine blocks or seize coins.

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Target Mechanism Quantum concern
Transaction authorization ECDSA or Schnorr signatures on secp256k1 Shor’s algorithm could, in principle, derive a private key from a public key on a sufficiently capable machine.
Bitcoin proof of work SHA-256 hashing Grover’s algorithm offers a quadratic search speedup in an idealized model; the 2026 preprint concludes this does not meaningfully threaten Bitcoin mining under its analysis.

The mining conclusion is an analysis of a particular model, not a guarantee about every conceivable future machine. It does show why “quantum computers break Bitcoin” is too broad: the signature system is the central concern in the sources cited here, while mining is a separate and more limited question. Gershteyn and Alber’s June 2026 preprint examines both.

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When could the threat arrive?

There is no dependable arrival date for a cryptographically relevant quantum computer. NIST says predictions vary widely; some people think such a machine could be possible in less than 10 years, but that is not a settled forecast. NIST also notes that integrating standardized cryptography into real systems can take 10 to 20 years, which is one reason transition planning may need to begin well before a machine exists. NIST’s post-quantum cryptography explainer discusses both the uncertainty and the integration lead time.

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One forecast is more specific, but it should not be mistaken for consensus. The June 2026 preprint by Iosif M. Gershteyn and Jacob A. Alber gives model-based probabilities of approximately one in six by 2035, near 30% by 2040, and about 60% by 2050. These are the authors’ outputs from a forecast model, not official NIST estimates or reliable countdown dates. The paper says no cryptographically relevant quantum computer exists today.

What should cryptocurrency holders do now?

  • Do not panic or move funds because of claims that quantum computers are already cracking wallets. The threat described is conditional on a future machine that can break the relevant signatures.
  • Do not assume a new address or a hardware wallet makes funds quantum-safe. Hardware custody can help with other key-management risks, but it does not change the signature algorithm used by the network. A new address alone is not a post-quantum signature scheme.
  • Pay attention to supported network and wallet changes. A genuine remedy would require a supported post-quantum signature scheme, changes to the network’s rules and infrastructure, and users moving funds into compatible outputs.

The activation method, migration timetable, eventual signature scheme and treatment of funds whose owners cannot move them are not settled in the sources cited here. A wallet provider cannot independently make a Bitcoin output post-quantum if the network itself does not support the necessary verification rules.

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What migration work is under way?

NIST finalized its first three post-quantum cryptography standards on August 13, 2024, and urges organizations to begin transitioning. Those standards are cryptographic building blocks; they do not automatically change Bitcoin’s consensus rules or upgrade existing wallets. NIST’s post-quantum cryptography page describes its standards program.

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BIP 361, “Post Quantum Migration and Legacy Signature Sunset,” lays out one possible Bitcoin migration approach, including post-quantum scripts and a later tightening of legacy signature verification. It is a proposal, not evidence that Bitcoin has adopted a quantum-resistant upgrade or that the community has chosen a final design.

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A 2024 paper, Downtime Required for Bitcoin Quantum-Safety, models the transition cost and argues that migration should finish before an ECDSA-breaking machine becomes available. Its downtime estimate depends on the paper’s assumptions; it is not an observed transition or a commitment by the Bitcoin network.

Any eventual plan must address more than selecting a signature algorithm. It also has to fit Bitcoin’s scripts and wallet infrastructure, provide a migration path for existing funds, handle keys already exposed on-chain, and establish how the change is reviewed, activated and adopted. The sources cited here do not establish a settled answer to those design and governance questions.

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