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Bitcoin developers and crypto advocates are again debating how the network should handle Satoshi Nakamoto’s early Bitcoin holdings, as quantum computing concerns revive questions about old addresses and future cryptographic security.
Alex Thorn, head of firmwide research at Galaxy Digital, said many Bitcoin developers and advocates agree that Satoshi’s original coins should remain untouched. Thorn said he discussed quantum risks and Bitcoin security with several market participants in Las Vegas.
Thorn said the concern is not only technical security, but also Bitcoin’s rule of ownership. He stated, “Satoshi’s coins should not be touched,” adding that violating those property rights could damage Bitcoin’s main value as a neutral money network.
The debate centers on early Pay-to-Public-Key Bitcoin addresses, which used an older structure. Some users argue these addresses could become more exposed if powerful quantum computers can break current cryptography in the future.
Thorn said the risk is lower than many people assume. He noted that Satoshi’s estimated coins are distributed across about 22,000 addresses, with many holding 50 BTC each. He argued that this distribution would make a broad attack harder to execute.
He also highlighted a separate scenario: what could happen if Satoshi’s coins moved or were stolen. Thorn said such an event would likely trigger panic because the coins have remained untouched since Bitcoin’s earliest years.
Thorn argued that the Bitcoin market has already handled very large sell-offs in the past. He suggested that many Bitcoiners may accept even a deep drawdown rather than approve any forced action against Satoshi-linked wallets.
He said, “Suffer a 50% drawdown” may be an acceptable trade-off for keeping Bitcoin’s property rights intact.
Support for leaving Satoshi’s coins alone does not mean the community is ignoring quantum computing. Developers continue to study post-quantum tools that may help protect Bitcoin users if the risk becomes more practical.
Thorn also noted that active users, companies, exchanges, and custodians can move funds to newer address types when needed, which can make large live wallets easier to protect than dormant coins whose owners may never return.
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