Bitcoin and Quantum Computing: What Happens to Satoshi’s 1.1M BTC?

Alex Thorn, Head of Firmwide Research at Galaxy Digital, recently shared insights on how Bitcoin could withstand potential threats from quantum computing, while also addressing concerns about Satoshi Nakamoto’s estimated 1.1 million BTC holdings. Speaking after discussions with industry leaders at the Bitcoin Conference 2026 in Las Vegas, Thorn emphasized that a growing consensus is forming around protecting early Bitcoin wallets.

According to Thorn, Satoshi-era coins—primarily stored in older Pay-to-Public-Key (P2PK) addresses—should remain untouched. He warned that interfering with these dormant holdings could undermine Bitcoin’s fundamental principle of property rights, potentially damaging trust in the network. Satoshi’s Bitcoin stash is distributed across roughly 22,000 separate addresses, each containing about 50 BTC. This distribution significantly reduces the likelihood of a large-scale coordinated attack, as compromising all addresses would be far more complex than targeting a single large wallet.

Thorn also pointed out that the real “honeypots” in the crypto ecosystem are centralized exchanges and active entities holding large amounts of Bitcoin. These organizations are better positioned to adopt post-quantum (PQ) cryptographic upgrades if necessary, making them less vulnerable than commonly assumed.

Addressing the role of emerging quantum technologies, Thorn highlighted that current systems—particularly neutral atom quantum computers—are still limited in capability. These technologies are more suited for long-range theoretical attacks rather than immediate, practical threats to Bitcoin’s cryptography. Understanding the distinction between potential attack types is critical when evaluating actual risks.

Even in a worst-case scenario, Thorn noted that Bitcoin markets have historically shown resilience, often absorbing over 1 million BTC in trading activity without major disruption. This suggests the ecosystem could handle significant shocks if needed.

Looking ahead, Thorn supports continued research into post-quantum cryptography. Developing these solutions as a precaution—even if they are never deployed—represents a balanced and forward-thinking approach to safeguarding Bitcoin’s future in an evolving technological landscape.