 
 
A new Bitcoin Improvement Proposal (BIP) titled “Post Quantum Migration and Legacy Signature Sunset” proposes phasing out legacy signature schemes vulnerable to quantum attacks, paving the way for quantum-resistant security in Bitcoin’s future.
Per the proposal, “An attack on Bitcoin may not be economically motivated – an attacker may be politically or maliciously motivated and may attempt to destroy value and trust in Bitcoin rather than extract value. There is no way to know in advance how, when, or why an attack may occur. A defensive position must be taken well in advance of any attack.”
The proposal further warns that up to 25% of all Bitcoin could be at risk if quantum-capable computers emerge, as these coins reside in addresses with exposed public keys, which are prime targets for quantum attacks.
As a result, the BIP aims to retire quantum-vulnerable Bitcoin address types and incentivize the use of post-quantum cryptography, amid warnings that quantum computers could crack private keys within a decade, potentially risking a flood of dormant Bitcoin entering the market.
Quantum computers can’t yet break Bitcoin’s cryptography, but the gap is closing fast.
 
Some experts warn that quantum-capable machines could emerge as early as 2027–2030, posing a real threat to Bitcoin’s security.
Bitcoin Exchange Reserves Nosedive
Bitcoin exchange reserves have plummeted to their lowest level since BTC traded at $15,000, signaling intensified long-term holding and reduced sell pressure.
BTC last traded at the $15K zone in November 2020, which is nearly five years ago, showing an intensified hodling trend.
This is a welcome development in the Bitcoin ecosystem, with the apex cryptocurrency having recently reached a new all-time high (ATH) price of $122,838, according to CoinGecko data.
Even though Bitcoin has pulled back to the $119,009, slashed exchange supply is bullish since it reduces selling pressure, meaning that BTC’s historic high rollercoaster ride might not be over yet.
Meanwhile, banking giant Standard Chartered recently established a spot Bitcoin and Ethereum trading service for institutional clients, such as asset managers and corporates.
Source: https://zycrypto.com/bitcoin-eyes-quantum-resistant-future-as-exchange-reserves-fall-shy-of-5-year-low/