Will Bitcoin's Encryption be Broken? Re-examining Google's Quantum Computer Whitepaper and 3 Key Forecasts
Google's quantum computing whitepaper has sparked renewed fears about Bitcoin's encryption. We analyze the claim that under 500k qubits could crack Bitcoin and explore the market outlook.
Recently, a whitepaper by the Google Quantum AI research team has resurfaced, spreading concerns over quantum computer decryption among Bitcoin investors. As the pace of quantum technology development in 2026 exceeds expectations, the debate over whether Bitcoin's security system is truly safe has been reignited.
Core of the Google Whitepaper: "Bitcoin can be cracked with 500,000 Qubits"
The biggest talking point is that the resources needed to break Bitcoin's Elliptic Curve Digital Signature Algorithm (ECDSA) are much lower than previously expected. While it was once thought that millions of physical qubits would be required, Google researchers analyzed that fewer than 500,000 physical qubits would be sufficient to neutralize Bitcoin's security through circuit optimization. In particular, the time required to crack the encryption could be dramatically reduced, prompting warnings that this could become a real threat as early as 2029.
Market Impact and Investor Reaction
The cryptocurrency market is reacting sensitively to this news. Bitcoin, currently moving sideways at the $63,000 level ahead of the FOMC interest rate decision, is seeing some contraction in investment sentiment due to this potential long-term security risk. Some have raised concerns that dormant Bitcoins using the early encryption method (P2PK) (about 25% of the total), including those held by Satoshi Nakamoto, could be the primary targets.
Bitcoin Network's Countermeasures (Introduction of PQC)
Experts predict that the Bitcoin ecosystem will be able to adequately respond before the quantum computer threat materializes. Currently, the transition to Post-Quantum Cryptography (PQC) is being actively discussed, led by networks like Ethereum, and Bitcoin is also expected to build defenses through future network upgrades.
FAQ: Frequently Asked Questions
- Q. Can quantum computers hack Bitcoin right now?
A. No. Immediate hacking is impossible with the current level of quantum computers, and several more years of technological advancement are needed before it becomes a practical threat. - Q. How should Bitcoin investors respond?
A. For now, there are no special actions for individual investors to take. When Bitcoin core developers proceed with Post-Quantum Cryptography (PQC) updates in the future, it will simply require moving assets to wallets that support it. - Q. If hacked, will the price of Bitcoin go to zero?
A. According to the so-called 'economic paradox', if Bitcoin's trust collapses and its price plummets, the economic incentive for a hacker to spend astronomical costs to attack it disappears. However, building a proactive defense system remains essential.