Financial Insights That Matter
- Tether CEO says lost Bitcoin could resurface with quantum computing advances.
- Bitcoin will likely adopt quantum-resistant addresses before the technology becomes a threat.
Bitcoin creator Satoshi Nakamoto once explained that “lost coins make everyone else’s coins worth slightly more.”
But what happens if those lost coins aren’t lost forever?
Tether CEO Paolo Ardoino recently predicted that lost Bitcoin — including Satoshi’s estimated 1.1 million Bitcoin — may not remain lost forever.
He suggests that as quantum computing advances, it could eventually crack older Bitcoin wallets that are no longer accessible and reintroduce those coins into circulation.
While he says the technology is “still very far” from posing a real threat, he predicts Bitcoin will adopt quantum-resistant addresses before it becomes an issue.
Bitcoin’s security relies on elliptic curve cryptography, which quantum computers could theoretically break.
Some researchers predict this could happen within five to ten years.
“We are about five years away from commercial quantum computers being able to break the elliptic curve keys that secure Bitcoin wallets,” said University of Calgary scientist-in-residence Pierre-Luc Dallaire-Demers.
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If that timeline holds, more than 3.5 million Bitcoin — considered lost due to forgotten private keys or misplaced wallets — could become accessible again.
This could challenge Bitcoin’s supply dynamics, which have long been defined by the assumption that lost coins are permanently out of circulation.
For most Bitcoin holders, upgrading to quantum-resistant addresses would be a simple precaution. But if quantum computing advances faster than expected, Nakamoto’s old claim about lost coins may no longer hold.
Crypto market movers
- Bitcoin has gained 1% in the past 24 hours and is trading at $97,195.
- Ethereum is up 2.1% over the same period to $2,670.
What we’re reading
Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at [email protected].
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