Cracking Bitcoin Encryption Is Getting Much Easier, Google Says - Unchained

Researchers at Google have found that it may be 20 times easier than previously thought for quantum computers to break encryption methods used by Bitcoin

Google’s quantum team reported that breaking RSA encryption, which is used in many secure systems, including some Bitcoin wallets, could require 20 times fewer qubits than earlier estimates had indicated.

Although Bitcoin relies mainly on different cryptographic methods — such as SHA-256 and ECDSA — the core concern is similar: quantum computers could, in theory, reverse-engineer private keys from public addresses, threatening the security of funds.

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RSA is not part of the Bitcoin protocol, but can be used in some peripheral and user-specific scenarios, including securing backups of private keys or as part of standard internet security protocols for Bitcoin wallets or services communicating over the internet.

Despite the reduction in required qubits, such powerful quantum computers do not currently exist. Most experts still estimate that practical quantum attacks are at least 10 to 20 years away.

Nevertheless, some TradFi firms are concerned. BlackRock, the world’s biggest asset manager, recently flagged quantum computing as a real, long-term risk to Bitcoin in its ETF filings.