European supervisory authorities EBA, ESMA and EIOPA have classified quantum computing as an emerging risk for the financial system and cryptocurrencies. Approximately 6.9 million BTC, representing nearly 34 % of the circulating supply, are already exposed through visible public keys on the Bitcoin ledger, accounting for about 586 billion dollars. Developers are working on BIP-360 and BIP-361 to organize migration to post-quantum algorithms, while NIST has already standardized three families of post-quantum algorithms. No quantum computer capable of breaking Bitcoin’s ECDSA or Schnorr signatures currently exists, but regulators warn about the time required to adapt the protocol and move vulnerable funds.
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