BlackRock warns: Quantum computers threaten Bitcoin security!

BlackRock warns: Quantum computers threaten Bitcoin security!

Technological advances in quantum computing are causing worrying debates about the security of cryptocurrencies. BlackRock has issued strong warnings that this technology could undermine the cryptographic foundation of digital assets like Bitcoin. In an updated May 2025 prospectus for its iShares Bitcoin Trust (IBIT), the company listed quantum computing as a potential risk to consider.

The underlying public key cryptography on which Bitcoin is based is particularly vulnerable to quantum attacks. The ECDSA algorithm used to sign Bitcoin transactions could be compromised by a powerful quantum computer that can recalculate private keys. It is estimated that around 25% of Bitcoins in circulation, equivalent to around 4 million coins, are potentially vulnerable to attack.

The threat of quantum computers

Although current quantum computers are not yet powerful enough to actually threaten Bitcoin, predictions show that they could become a reality with around 1 million qubits by 2030. Institutions like the Hudson Institute view the risks posed by quantum computing as a serious threat to the global economy. Some experts recommend “burning” vulnerable assets immediately, while others urge remaining prudent.

Given these risks, many crypto projects are intensifying research into quantum-safe signatures and alternative blockchain architectures. The search for post-quantum cryptography (PQC) has begun, with algorithms such as SPHINCS+ and Dilithium coming into focus. However, the transition to quantum-safe processes is proving to be technically challenging, especially in the Bitcoin network.

The need for cryptoagility

The urgency of this issue is further underscored by calls from governments and regulators to migrate to quantum-safe cryptography by 2028 at the latest. However, current analyzes show that the preparation rate in many companies is currently below 50%. In addition, some post-quantum algorithms, such as SIKE, have proven to be unsafe.

Another problem is the security vulnerability associated with the “harvest now, decrypt later” strategy, in which sensitive data can be harvested now and decrypted later. BlackRock's warning thus represents a turning point in dealing with quantum computing as a threat to cryptocurrencies, and it is clear that users, companies and governments must act now to protect digital assets and trust in these technologies.

The challenges associated with long-term IT security, especially in the KRITIS environment, are becoming increasingly complex. Experts emphasize that the implementation of quantum-safe processes, such as those promoted by the Post-Quantum Cryptography Competence Center, is not only necessary, but urgently required. Support is offered here for migrating to PQC procedures and security analyzes to make the transition to quantum-resistant methods as smooth as possible.

The technical conversion to secure procedures therefore remains an essential task for the future of digital currencies and beyond, which could have a lasting impact on the IT security landscape.