Citi analysts warn that quantum computing advances are shortening the timeline for practical attacks on crypto, with Q-Day now estimated at 2030-2032. Bitcoin is structurally more vulnerable than Ethereum due to its governance model: transitioning to quantum-resistant cryptography requires a hard fork, making consensus difficult. An estimated 6.7–7 million Bitcoin in dormant wallets already have exposed public keys, including 1 million BTC from Satoshi Nakamoto, worth $82 billion. Ethereum and proof-of-stake networks benefit from flexible governance, though a quantum attacker could still disrupt them by controlling 33% of staked assets. The report highlights BIP-360 and BIP-361 as key proposals for Bitcoin's quantum readiness.

Key facts

• Q-Day estimate revised to 2030-2032 due to faster quantum advances.
• Bitcoin harder to fix than Ethereum due to governance; requires hard fork.
• 6.7-7M Bitcoin in dormant wallets with exposed public keys are prime targets.
• Ethereum's flexible governance allows easier quantum-resistant upgrades.
• Citi flags BIP-360 and BIP-361 as key Bitcoin quantum readiness proposals.

KeyAudit data perspective