Crypto analyst Willy Woo has warned that the rise of quantum computing could pose serious risks to Bitcoin’s security model — not only for private keys but also for public ones.
In a recent post on X (formerly Twitter), Woo said that so-called “Big Scary Quantum Computers (BSQC)” may eventually be able to derive private keys from public ones, potentially allowing hackers to drain vulnerable wallets.
Taproot Addresses at Risk
According to Woo, Taproot addresses that begin with “bc1p” could be most at risk, since they embed the public key directly within the address. To mitigate this, he recommends moving funds to safer formats — specifically:
- SegWit addresses starting with “bc1q”
- P2SH or P2PKH addresses, which begin with “3” or “1”, respectively
“These legacy and SegWit formats hide the public key until coins are spent, giving an extra layer of protection against future quantum attacks,” Woo explained.
How to Prepare Your Bitcoin Holdings
Willy Woo outlined a simple plan for Bitcoin holders to safeguard their assets against future quantum threats:
- Create a new wallet using a SegWit address (bc1q).
- Transfer all BTC to that wallet.
- Avoid making any outgoing transactions from this address.
- Wait until Bitcoin upgrades to a quantum-resistant protocol — a process that may take around seven years, according to Woo.
- Once the upgrade is complete, move your BTC to a new, secure address during a period of low network activity.
While the likelihood of an immediate quantum attack remains small, Woo stresses that it’s best to eliminate risks proactively.
Institutional and Lost Coins Also at Risk
Woo also noted that Bitcoin held in ETFs, custodial wallets, and cold storage of exchanges could remain secure — but only if providers take early preventive measures.
However, he warned that 1 million coins linked to Satoshi Nakamoto’s early addresses could eventually be stolen. Those coins sit on P2PK addresses that reveal the public key — making them the most exposed, unless a future soft fork freezes such outputs.
“Old P2PK addresses and lost coins with prior spend activity are the real quantum targets,” Woo concluded.
Growing Quantum Concern in the Industry
Woo’s comments follow similar warnings from major institutions. Earlier this year, BlackRock highlighted the potential risks of quantum computing to Bitcoin and digital assets at large.
In a related move, El Salvador reportedly distributed its 6,300 BTC across 14 different wallets as a precaution against future quantum vulnerabilities.
