A new report by Google warns that hackers could crack open old Bitcoin wallets belonging to Satoshi Nakamoto, the inventor of Bitcoin, in just nine minutes by 2029 using quantum computing techniques. This has sparked calls for a blockchain upgrade to lock up those coins forever, but experts like JP Richardson and Pete Rizzo are skeptical about making such a move compulsory. They believe that voluntary upgrades by wallet users will be more effective in protecting the blockchain. The potential market impact of a forced upgrade is significant, with some fearing it could flood the market with newly circulating Bitcoins, but others think it would be devastating for Bitcoin’s value.
Source: https://finance.yahoo.com/markets/crypto/articles/quantum-threat-bitcoin-asking-unthinkable-114215047.html