Quantum Computing: Threat or Hype for Bitcoin?

The co-founder of Solana, Anatoly Yakovenko, has emphatically pointed out that Bitcoin developers urgently need to prepare for the potential breakthrough in quantum computing technology. At the All-In Summit 2025, Yakovenko predicted that within the next five years, there is a 50:50 chance that quantum computers could circumvent Bitcoin's current security systems. He called for Bitcoin to be switched to a quantum-secure signature system in order to minimize potential risks from algorithms like Shor's, which could compromise the Elliptic Curve Digital Signature Algorithm. This would make it possible to forge transactions and compromise wallets—an existential risk for the network. However, the switch to post-quantum cryptography is no simple endeavor and would require a hard fork, a technical and controversial process. While Yakovenko emphasizes urgency, others in the crypto community are more reserved. Adam Back, CEO of Blockstream, estimates that the technology is not yet tangible and that an adjustment to Bitcoin would be relatively simple. Bitcoin Core contributor Peter Todd noted that quantum computers in their current form do not yet exist, and Luke Dashjr spoke of greater threats from spam and developer corruption than from quantum threats. Yakovenko, on the other hand, points to the rapid advances in artificial intelligence as an indicator of how quickly research results can become reality. If technology giants like Apple or Google were to introduce quantum-secure cryptographic systems, "it is time to make the switch.