Bitcoin‘s vulnerability to future quantum computing attacks is back in the spotlight following new figures from Glassnode, an on-chain analytics provider. According to Glassnode, 7.12 million
Bitcoin‘s vulnerability to future quantum computing attacks is back in the spotlight following new figures from Glassnode, an on-chain analytics provider. According to Glassnode, 7.12 million BTC—equal to 35.4% of all issued Bitcoin—is currently protected by public keys already visible on-chain.
The November 10 update, using the firm’s latest methodology, provides a quantified view of how much of Bitcoin’s supply might be at theoretical risk should quantum computers advance far enough to break current cryptographic security. Glassnode stated that 25.8% of all Bitcoin addresses face exposure due to address reuse, with 11.6% of supply held on exchanges falling under this category. The exchange figure is included within the overall figure for reused addresses, and is not additional.
Glassnode emphasized that moving coins from a reused address to a fresh one can eliminate some exposure, but this action does not guarantee protection against all future quantum attack methods. Compared to a previous reading from May, when 30.2% of issued Bitcoin—about 6.04 million BTC—was found to be exposed, the November data marks a 5.2 percentage point increase. This shift reflects a change in measured risk rather than any proven advancement by quantum computers in 2024.
Date Visible-key exposure (%) Exposed BTC (million) May 2024 30.2% 6.04 November 2024 35.4% 7.12Glassnode pointed out that “moving those coins to a fresh address ends this exposure,” but also clarified that no current address format is fully immune to all possible future quantum threats.
A public key allows the Bitcoin network to verify transaction signatures, while a private key grants the holder the power to move coins. Under current cryptography, knowledge of a public key alone does not make deriving the corresponding private key feasible with classical computing. However, future quantum computers might break this security model, raising concerns about coins whose public keys have already been revealed on-chain while still unspent.
Glassnode differentiates between exposure ‘at rest’—when coins sit in addresses where the public key is already known—and exposure that only arises as a transaction is about to be finalized. The shorter period after a user broadcasts a transaction gives less opportunity for attackers, but long-term address reuse increases the time window that a key is exposed.
A key point from Glassnode’s research is that the presence of millions of BTC with visible public keys does not mean those coins are at immediate risk, nor does it imply a confirmed quantum breakthrough. The figures map potential exposure based solely on existing blockchain data.
Glassnode separates risk originating from how Bitcoin addresses are structured, and risk accumulating from how users manage wallets and reuse addresses. Some address types are inherently more exposed, while careless key reuse by institutions or individuals can leave assets linked to information already available on the blockchain.
For custodians, such as cryptocurrency exchanges and storage providers, the challenge often centers on wallet management. Even when a firm has robust protections against theft or unauthorized withdrawals, it still needs an inventory distinguishing which assets have visible public keys. Address reuse can extend exposure beyond the moment of transaction, impacting future as well as current holdings.
This operational insight means a public key exposure metric cannot be used in isolation to judge the solvency, security, or reliability of a service provider. Conversely, a low exposure percentage does not equate to a comprehensive safety assessment.
The real operational test for service providers involves understanding address formats, transaction records, and future plans for managing cryptographic change—rather than simply embracing or rejecting quantum readiness as a broad goal.
A draft solution known as BIP 360, currently under discussion, introduces Pay-to-Merkle-Root outputs as one way to limit how long a public key remains exposed. However, it has not been adopted or activated on the Bitcoin network.
The authors of BIP 360 clarify that even this approach may not fully protect against rapid “in-flight” attacks, and they point out that comprehensive defense against quantum computers may require signatures designed to withstand quantum algorithms. The broader process includes reviewing proposals, achieving network consensus, technical implementation, and eventually persuading holders and services to update systems.
The timeline for truly quantum-capable hardware remains uncertain, and the proposal offers only one possible preparation step rather than a solution backed by a countdown to any proven attack.
Mini dictionary: BIP 360—A draft Bitcoin Improvement Proposal introducing Pay-to-Merkle-Root outputs, designed to conceal public keys for longer durations and reduce potential risk from quantum attacks. As of June 2024, BIP 360 remains in draft status and is not activated on the Bitcoin network.
Because any changes affect a large, distributed user base, coordination between wallet developers, custodians, and Bitcoin holders is crucial. Addressing the needs of dormant accounts adds complexity, as inactive owners cannot be assumed to participate in future security transitions.
For corporations holding substantial Bitcoin reserves, such as those in treasury strategies, long-term risk planning needs to integrate with wider corporate governance and asset management policies. As institutional investment in Bitcoin grows, preparing for future cryptographic change becomes a key management topic.
Current Glassnode figures offer a more precise starting point for both operational and governance planning. By identifying coins with exposed public keys and highlighting the operational risks of address reuse, these statistics contribute to informed Bitcoin risk management. However, they do not indicate any theft, immediate attack threat, or prescribed price movement for Bitcoin.
Future progress in reporting standards, technical defense proposals, and independent demonstrations of quantum capability will provide clearer insight. Until then, the emphasis remains on preparedness and transparent risk mapping within the Bitcoin ecosystem.
The post Glassnode reports 7.12 million BTC exposed to quantum risk through visible public keys appeared first on COINTURK NEWS.
