Strategy, the world's largest corporate Bitcoin holder, said the Bitcoin network can implement new security measures as and when they are needed, addressing the long-running debate over quantum computing risks.
The company, co-founded by Michael Saylor, wrote on X that “Quantum-resistant upgrades can be adopted if & when it's needed.” The comment comes as the crypto industry considers whether advances in quantum computing could eventually threaten Bitcoin's cryptographic security.
Bitcoin relies on elliptic curve cryptography for transaction security. A sufficiently powerful quantum computer could potentially reverse-engineer private keys from exposed public keys, giving attackers access to the Bitcoin holdings associated with those keys. At this point, there is no known publicly available quantum computer that can break Bitcoin's cryptography in this manner.
Saylor's earlier estimate
Speaking at the World Bank in Washington in October, Saylor said the Bitcoin network could defend itself against any realistic quantum computing threat by coming together to upgrade its software. He estimated that such an upgrade would take about 90 days once a worldwide consensus was reached on the need for quantum-resistant cryptography.
Saylor also warned against introducing new cryptography hastily, reasoning that more complex security measures may themselves introduce weaknesses. The 90-day estimate has drawn scrutiny because a network-wide shift would involve developers agreeing on technical changes and Bitcoin users moving their funds to new, secure addresses.
Industry research efforts
Strategy has also initiated efforts aimed at research and development for Bitcoin's long-term security. In July, it was part of a group of seven major financial institutions and crypto companies, including BlackRock and Coinbase, that formed the Bitcoin Security Consortium.
The consortium has committed $15 million over three years, with post-quantum cryptography among its areas of focus. Bitcoin developers are already working on ways to address the quantum computing issue. One prominent proposal, Bitcoin Improvement Proposal 360, introduces a new type of transaction output called Pay-to-Merkle-Root, or P2MR.
