Analytics firm glassnode has analyzed how much of the Bitcoin supply is potentially vulnerable to the implications of Quantum Computing, and the breakdown of its distribution.

6.04 Million Bitcoin Estimated as Vulnerable to Quantum Threats

In a recent post, Glassnode discussed the portion of the Bitcoin supply that is at risk due to the advancements in Quantum Computing. This technology has the potential to disrupt existing cryptographic systems, which are foundational to Bitcoin and many other cryptocurrencies.

Although Quantum Computing has been anticipated for years, recent technological developments have prompted discussions within the digital asset community regarding its possible impacts.

For Bitcoin, the primary concern is the quantity stored in less secure wallets. According to Glassnode, a critical factor is whether the public key necessary for spending a coin is already visible on the blockchain.

Utilizing this criterion, Glassnode estimates that approximately 6.04 million Bitcoins are susceptible to Quantum attacks, representing over 30% of the total Bitcoin supply currently in existence. This risk can be categorized into two distinct types:

The first type is structural exposure, which includes outputs that inherently disclose the public key. The second type is operational exposure, which encompasses coins that were initially secure but have had their public keys revealed due to address reuse, partial spending, or custody practices.

The following chart illustrates how the Bitcoin supply’s composition has evolved concerning these categories over the years:

As depicted in the graph, a significant proportion of the Bitcoin supply was exposed in its early years, largely due to the less secure wallets that were available at the time. Over the years, as users have shifted to more secure wallet technologies, the proportion of structurally unsafe Bitcoin has decreased to just 9.6%.

However, about 20.6% of the Bitcoin supply still falls under the operationally unsafe category, which has actually increased in recent times. Currently, the operationally vulnerable supply encompasses about 4.12 million BTC, as shown in the following chart:

In summary, the structurally unsafe supply consists of approximately 1.92 million BTC, whereas the total safer supply remains at about 13.99 million BTC.

Current Bitcoin Market Value

As of this moment, Bitcoin’s price is around $77,000, reflecting a decline of over 3% within the past week.