Bitcoin · Ethereum · Wall Street · CoinDesk
Bitcoin runs into outsized quantum threat as computing breakthroughs accelerate, Citi confirms
Compiled by KHAO Editorial — aggregated from 2 sources + 2 references discovered via search. See llms.txt for citation guidance.
✓ KHAO Verified
Quantum computing is emerging as a growing risk for digital assets, with Wall Street bank Citi (C) warning that recent breakthroughs are accelerating the timeline for potential threats to crypto security and internet infrastructure.
Key facts
- Despite the risks, the bank remains constructive on crypto’s long-term ability to adapt through post-quantum cryptography and protocol redesigns and proposed Bitcoin upgrades, including BIP-360
- Latest estimates put around 6.5–6.9 million bitcoin at quantum risk due to already-exposed public keys
- Quantum computing is emerging as a growing risk for digital assets, with Wall Street bank Citi (C) warning that recent breakthroughs are accelerating the timeline for potential threats to crypto
- In a Friday report, the bank said advances in quantum computing are challenging the cryptographic systems underpinning cryptocurrencies, financial networks and online communications
Summary
Citi said Friday that quantum breakthroughs are arriving faster than expected, raising risks for crypto security systems. The bank sees Bitcoin as more vulnerable because of its slower governance and upgrade process. Ethereum and other proof-of-stake networks may adapt faster, though they face their own quantum-related risks. In a Friday report, the bank said advances in quantum computing are challenging the cryptographic systems underpinning cryptocurrencies, financial networks and online communications.