"Bitcoin's Satoshi Stash at Risk: Quantum Threat Looms"

Tether's CEO, Paolo Ardoino, has recently addressed the potential impact of quantum computing on Bitcoin's security, particularly focusing on the wallets associated with Satoshi Nakamoto, the mysterious creator of Bitcoin. While Ardoino reassured the crypto community that quantum computing does not pose an immediate threat, he acknowledged that inactive Bitcoin wallets, including those linked to Satoshi Nakamoto, could become vulnerable as quantum technology advances.

Ardoino's statement comes in response to reports suggesting that Google expects commercial quantum computing applications to emerge within the next five years. In a February 8 post on X, Ardoino emphasized that Bitcoin's cryptographic security remains intact for now. However, he noted that while quantum computing is still far from being a serious risk, it could eventually expose old Bitcoin wallets with lost keys or deceased owners, including the estimated 1.2 million BTC associated with Bitcoin's creator.

Ardoino warned, "Any Bitcoin in lost wallets, including Satoshi (if not alive), will be hacked and put back in circulation." Despite this potential vulnerability, he dismissed concerns that quantum computing could impact Bitcoin's 21 million supply cap, assuring that it remains unchanged regardless of technological advancements. "Only 21 million Bitcoin anyway. Nothing can change that. Not even quantum computing. That's the real key important message," he added.

Ardoino's perspective aligns with Emin Gün Sirer, co-founder of Ava Labs, who previously pointed out that early Bitcoin transactions used a now-outdated Pay-to-Public-Key (P2PK) format. This method exposes public keys, making them more vulnerable to quantum attacks. Sirer proposed that a precautionary approach could prevent future risks, suggesting freezing old P2PK-based holdings or setting an expiration date for their usability.

Sirer suggested, "Satoshi's early mined coins used the very old Pay-To-Public-Key (P2PK) format, which reveals the public key and gives the attacker time to grind, for the mother of all cryptography bounties...as QC gets threatening, the Bitcoin community might want to look into freezing Satoshi's coins, or more generally, provide a sunset date and freeze all coins at P2PK UTXOs."

As quantum computing continues to advance, the Bitcoin community is encouraged to remain vigilant and consider potential measures to