Tether CEO says quantum computing may restore lost Bitcoin

Tether (CRYPTO:USDT) CEO Paolo Ardoino predicts that quantum computing could eventually unlock Bitcoin (CRYPTO:BTC) from lost wallets, returning it to circulation. 

However, he emphasised that this is still far from being a reality. 

In a February 8 post, Ardoino explained that quantum computing could eventually be used to hack inactive Bitcoin wallets, including those that belong to Satoshi Nakamoto if he is no longer alive, and put the Bitcoin back into circulation. 

While acknowledging the potential, Ardoino reassured that quantum computing is still too far off to pose any immediate threat to Bitcoin’s cryptographic security. 

Quantum computing is a rapidly advancing technology capable of solving complex problems by utilising atomic-level phenomena, which current computers cannot handle. 

As quantum computing technology progresses, lost Bitcoin wallets—those that remain inactive for long periods without access—will become more vulnerable.

In contrast, active wallets are more likely to adopt quantum-resistant measures as the technology becomes available. 

Ardoino also pointed out that Bitcoin owners who still have access to their wallets will likely migrate to new, quantum-resistant addresses when such protections are offered. 

A pseudonymous crypto trader, Crypto Skull, warned that if Satoshi Nakamoto’s 1 million Bitcoins were restored to circulation, it could “theoretically send us back to the stone age” due to the massive influx of Bitcoin supply. 

In December 2024, Bitcoin advocate Chamath Palihapitiya echoed similar concerns, suggesting that while quantum computing poses a potential risk to traditional cryptographic approaches, it is not an immediate threat. 

Experts have suggested that Satoshi’s stash of Bitcoin should be frozen to prevent possible exploitation.

According to a July 2023 report, quantum computing would require millions of qubits to successfully implement an algorithm capable of locating private keys for Bitcoin wallets.

At the time of reporting, the Bitcoin (BTC) price was $96,903.14.