Binance founder Changpeng "CZ" Zhao has proposed freezing up to 1 million Bitcoin (BTC) believed to belong to Satoshi Nakamoto if the coins remain unmoved after a future transition to quantum-resistant cryptography. Speaking on the Galaxy Brains podcast hosted by Galaxy Research President Alex Thorn on June 18, CZ argued that quantum computing is not an insurmountable threat because quantum-resistant cryptography already exists, but coordinating a network-wide migration would be challenging.
Zhao’s proposal calls for a six- to twelve-month migration period after any quantum-resistant upgrade, during which holders would need to move their coins to protected addresses. Those that remain static would be permanently frozen under the new protocol. He warned that allowing vulnerable legacy addresses to persist could let quantum-capable attackers claim the coins, effectively redistributing ownership to whoever cracks the keys first. CZ emphasized that such a decision should come through Bitcoin’s consensus process, not from him personally.
The proposal adds fuel to an ongoing debate within the Bitcoin community. A June report from Coinbase’s advisory board, with input from Ethereum Foundation researcher Justin Drake, recommends preparing a migration path to post-quantum cryptography now to avoid future disruption. The report outlines freezing unmigrated coins to protect market stability, but critics argue that making dormant coins unspendable would amount to confiscation and violate Bitcoin’s core principles of immutability and user control.
Galaxy Digital’s Alex Thorn, a vocal opponent, highlighted that Satoshi’s estimated stash is spread across roughly 22,000 addresses, many containing around 50 BTC, making a large-scale quantum attack more difficult than often assumed. Thorn cautioned that any attempt to override property rights could weaken Bitcoin’s credibility as neutral money and might face resistance from users, even if it meant weathering a market decline.
