Lost bitcoins, including the ~1 million BTC believed to belong to Satoshi Nakamoto, will eventually be hacked and reintroduced into circulation. This prediction was made by Tether CEO Paolo Ardoino.
Prediction.
— Paolo Ardoino 🤖🍐 (@paoloardoino) February 8, 2025
Quantum computing is still very far from any meaningful risk of breaking Bitcoin cryptography.
Quantum resistant addresses will eventually be added to Bitcoin before there is any serious threat.
All people alive (and that have access to their wallets) will move…
The executive believes quantum computing is a distant prospect. By that time, users with access to their wallets will have already moved their assets to new “quantum-resistant addresses.”
“In any case, there will only ever be 21 million BTC. Nothing can change that. Not even quantum computing. That’s the key and most important message. Bitcoin is the best asset in the world,” Ardoino emphasized.
Trader Crypto Skull supported the Tether CEO’s perspective.
Prediction.
— Paolo Ardoino 🤖🍐 (@paoloardoino) February 8, 2025
Quantum computing is still very far from any meaningful risk of breaking Bitcoin cryptography.
Quantum resistant addresses will eventually be added to Bitcoin before there is any serious threat.
All people alive (and that have access to their wallets) will move…
“Quantum computing is not a real threat yet. And by the time it is, you’ll probably be sipping a mojito. […] Crypto is built to evolve. The real question isn’t whether quantum computing will catch up, but whether you’ll be around to witness it,” he commented.
The expert expressed optimism about a hypothetical method to “process and freeze” Satoshi’s coins.
Billionaire and Social Capital founder Chamath Palihapitiya shared a similar outlook on the timeline for quantum computing advancements.
I’m being misquoted in some places. And in others, folks are just being intellectually lazy or technically dumb.
— Chamath Palihapitiya (@chamath) December 14, 2024
So to be clear:
Quantum Computing will be a risk to v1 cryptographic approaches. The time frame is very much not clear and it’s not in the immediate time horizon.… pic.twitter.com/aMirUb8xTD
“This isn’t happening anytime soon. But if I had a lot of coins, […] I’d be preparing accordingly,” he stated.
In October 2024, Chinese scientists reportedly carried out the “world’s first effective attack” on a widely used encryption algorithm using a quantum computer.
Later, experts claimed that the threat to cryptocurrencies was exaggerated.
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