Fears that quantum computing could potentially break Bitcoin's cryptography have sparked a heated debate within the crypto industry. However, Alex Thorn, head of research at Galaxy Digital (GLXY), argues that this is not an imminent crisis and that the claims are exaggerated. He argues that a sufficiently advanced quantum computer could extract private keys from exposed public keys, allowing an attacker to forge signatures and steal funds. Most bitcoin currently is not immediately vulnerable, but only cases where public keys are exposed onchain. Project Eleven, a security firm focused on quantum risks in digital assets, suggests that roughly 7 million bitcoin BTC $ 70,341.71, worth about $470 billion, could be vulnerable under a “long exposure” definition, meaning their public keys have already been revealed. A growing technical work is being done to make Bitcoin “quantum-resistant” over time, with some efforts focusing on new address types that rely on post-quantum cryptography. Other proposals include addressing cases like dormant coins with permanently exposed public key.