Citi Warns of Quantum Risks for Bitcoin Compared to Ethereum
- Citi analysts reported that bitcoin faces significantly greater quantum risk than Ethereum.
- A quantum computer could potentially derive a bitcoin private key in about nine minutes, using fewer than 500,000 physical qubits.
- Approximately 6.9 million BTC could be vulnerable to quantum attacks, representing over 21% of all bitcoin transactions in recent years.
- Bitcoin’s governance is slow and conservative, with significant upgrades taking years to implement.
- In contrast, Ethereum has already begun implementing quantum-resistant measures through upgrades like EIP-7702 and the upcoming Hegotá hard fork.
The warnings from Citi and research from Google Quantum AI highlight an urgent need for institutions holding bitcoin to reconsider its security against potential quantum threats, as its upgrade path remains uncertain and slow.
With approximately 6.9 million BTC at risk, the contrast in governance speed between bitcoin and Ethereum underscores the latter’s proactive approach to quantum safety.(Source)
