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CoinShares: Bitcoin's quantum risk is manageable, market concerns are exaggeratedBlockBeats News, February 8, CoinShares published an article stating that the possibility of practical quantum computers emerging in the future is not zero, sparking intense debate about the potential impact on bitcoin security. Bitcoin's quantum vulnerability is not an imminent crisis, but rather a foreseeable engineering issue, and there is ample time for adjustments. From a technical perspective, the so-called quantum risk mainly comes from the possibility that Shor's algorithm could break ECDSA or Schnorr signatures, thereby exposing private keys; Grover's algorithm could theoretically weaken the security strength of SHA-256. The main potential impact is on about 1.7 million BTC that were early on using P2PK addresses, accounting for about 8% of the total supply, so the likelihood of triggering a systemic market shock in the short term is limited. The commonly cited claim in the market that "about 25% of the supply is at risk" is considered to be clearly exaggerated, and a significant portion of this risk can be mitigated through address migration and other means. Long-term attacks may be theoretically feasible within the next decade, but short-term attacks such as cracking private keys in the mempool within 10 minutes are basically impossible in the foreseeable future or even decades to come. The scale of BTC that could flow into the market due to private key leaks is roughly only about 10,000 BTC, and even if it happens, the impact on the price system would be limited. Holders can proactively migrate to more secure address structures. The remaining potential targets are scattered across about 34,000 addresses, each holding an average of about 50 BTC; even under extremely optimistic assumptions of quantum technology breakthroughs, it could take decades to complete a comprehensive attack.