Bitcoin in the Quantum Crosshairs: Nic Carter Urges Post-Quantum Upgrades to Protect 1.7M BTC

COINOTAG News reports that Nic Carter, founder of Smart Contracts and Castle Island Ventures, released an analysis citing Scott Aaronson who argues that breaking Bitcoin via quantum computing would be an engineering challenge, not a fundamental physics breakthrough. Carter highlights a potential pathway through a soft fork to a post-quantum signature framework.

Executing a post-quantum upgrade requires selecting a credible signature scheme, coordinating a network-wide shift, and migrating tens of millions of addresses. The process could span many years, emphasizing the magnitude of the transition and the necessity for clear security milestones to safeguard the market.

A notable share of vulnerable Bitcoin is held in abandoned wallets, complicating enforced migrations. Carter warns that even with upgrades, about 1.7 million BTC could face risk from quantum attackers if holders cannot be compelled to move. He urges timely mitigations to strengthen resilience against the quantum threat.