Bitcoin open-source engineer Matt Corallo has presented a clear two-step roadmap to make Bitcoin quantum-resistant, directly countering claims that developers are "sleepwalking" on the quantum threat. Speaking on the Unchained podcast, Corallo argued that a practical post-quantum migration path is already taking shape and may be simpler than critics suggest.
The first step involves enabling post-quantum key commitments. Corallo stated this should be done soon, with growing consensus around hash-based signatures. He pointed to ongoing work tied to BIP 360, noting that current discussion focuses more on implementation details than whether to proceed. This phase allows wallets to commit to quantum-safe keys without immediately paying the size and fee overhead of using large post-quantum signatures on-chain.
The second, more politically challenging step is deciding when to disable vulnerable legacy spend paths. This would involve a market-driven fork decision affecting old coins that haven't migrated, including lost or abandoned coins. Corallo emphasized that most wallets using seed phrases already have a quantum-safe anchor at the wallet-derivation layer, which meaningfully changes the migration problem and could reduce disruption.
Corallo disputed the narrative that Bitcoin development circles are ignoring quantum risk, citing research at Blockstream Research and Chaincode Labs, and noting that post-quantum discussion on the Bitcoin developer mailing list has grown to represent "30 or 40%" of posts.
Meanwhile, market analysts are warning of a potential "Quantum Discount" affecting Bitcoin's valuation. Experts suggest that without robust cryptographic defenses implemented by 2027, Bitcoin could face a severe valuation adjustment. Charles Edwards, founder of Capriole Investments, suggests the market may soon price in the probability of a compromised network, potentially driving Bitcoin toward $30,000 by 2027 if institutional models determine 20-30% of the supply is "public key exposed."
Former Mt. Gox CEO Mark Karpelès highlighted a critical vulnerability: while active users can migrate funds to post-quantum addresses, millions of "lost" or Satoshi-era coins remain stuck in legacy formats and cannot be upgraded, creating a scenario where a quantum actor could potentially derive keys for these dormant addresses.
At press time, Bitcoin traded at $65,953, with the broader market showing signs of concern about quantum computing advancements potentially breaking the Elliptic Curve Digital Signature Algorithm (ECDSA) that secures Bitcoin balances.
