Ad: Google Suggests Quantum Computers May Break Bitcoin With Fewer Resources

Quantum computers are arriving sooner than we think. They pose a huge threat to Bitcoin, which relies on cryptographic codes to remain secure.

Fewer qubits may be required from quantum computers to breach the cryptographic codes of Bitcoin and Ethereum, Google has suggested. They believe it may take only 500,000 qubits, a figure that is 20 times lower than previous estimates. All of this has been derived from studies by Google Researchers, meaning Q-Day may arrive sooner than we think.

The Current State of Bitcoin

As of March 31st 2026, the BTC price NZD stands at $116,918. This is down from a short spike to $118,733 earlier in the day, brought on by potential alleviations of tension in the Middle East. Issues with oil in the Strait of Hormuz are severely impacting risk assets such as Bitcoin.

Binance noted how this is impacting possible economic data in the United States. It noted that CPI and PCE matter because oil’s pass-through hasn’t fully hit prints yet. They stated that an upside surprise delays cuts and reinforces a supply-shock pricing regime, with second-round food inflation risk building via fertiliser and input disruptions. All of this turns people away from risk assets, of which Bitcoin is one, to safe havens.

Alongside this, the risk posed by quantum computers is also weighing on its price. Testing by Google was done using two schemes. The first used 1,200 logical qubits along with 90 million Toffoli Gates. These essentially act as ‘and’ gates for quantum circuits, letting them reconstruct inputs from outputs due to their reversibility. A second used 1,450 logical qubits and 70 million gates. Both were sampled using a superconducting cryptographically relevant quantum computer. From this, the company has deduced that it would take between nine and 12 minutes to execute an on spend attack.

Discussing the revelation, Google added that “We aim to draw attention to this issue and provide the cryptocurrency community with recommendations to enhance security and stability while it is still possible.” All of this suggests that Quantum attacks may arrive much sooner than previously thought.

Google also added that it depends on which hardware scales first. A slower system may initially target stored funds, while faster ones may provide instant attacks as transactions are taking place.

The Threat to Bitcoin’s Sleeping Wallets

Wallets from the early days of Bitcoin utilise P2PK, a pay-to-public-key. This locks Bitcoin to a public key, meaning it can only be spent by the owner. Many of them are inaccessible due to their keys being lost. Some contain billions of dollars, including early Satoshi-era wallets. In fact, it is estimated that around 1.7 million Bitcoins are still dormant in them.

The issues arise from the fact that they can not be upgraded to quantum-level security. This means they can be unlocked by whoever gets first access to a quantum computer able to prise them open. In a system that is decentralised, this is becoming extremely hard to police, and policing it flies in the face of what a decentralised network should be. 
Attacks of this type could have the potential to seriously disrupt the economics of Bitcoin. With floods of coins on the market, price drops would be endemic.

The Threat to Ethereum

Ethereum could be at a greater risk than even Bitcoin. Smart contracts are particularly at risk, and Layer 2 networks have KZG commitments, which are quantum vulnerable. This had led the Ethereum Foundation to place quantum security as its top priority.

Binance noted that Ethereum has outlined its “Strawmap” quantum-resistance roadmap and 2026 upgrades: Ethereum introduced Strawmap as a four-year quantum-resistance framework targeting 2-second slots and 6 to 16 second finality. It also had two 2026 upgrades, Glamsterdam and Hegotá, focused on L1 performance, privacy, and cryptography.

Senior researcher Justin Drake has noted that a dedicated research and engineering team is working on this. Their strategy will involve governance processes and live post-quantum development networks.

The Future of Cryptocurrency

The double whammy of unstable global politics and the threat of Quantum computing seems to be cooling the desire for cryptocurrency. Inflows to spot ETFs cooled this week, suggesting more traditional investors and those with low risk appetites are turning away from it. Added to this has been a slowdown in the growth of stablecoins.

Real interest rates also continue to rise. When compared to something like Bitcoin, which produces no yield, investing in crypto starts to look even less appealing. Yields on 10-year inflation-protected securities have risen, and this really does pull people away from risk assets. Any anticipation once held for FED rate cuts is now well and truly dead in the water.

Bitcoin and cryptocurrency are thus facing a double hit. In the short term, global politics and, particularly, the price of oil per barrel are hitting it hard. Yet long-term, quantum computing is a real threat that could collapse the whole ecosystem. The right security measures need to be found, and fast. 

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