Adam Back has suggested that a future post quantum upgrade to Bitcoin could help determine the true size of coins linked to Satoshi Nakamoto. Speaking at Paris Blockchain Week, Back said that a network-wide migration to quantum-resistant addresses would require holders to move funds, potentially revealing which coins remain active.
He estimated that Satoshi Nakamoto’s holdings are between 500,000 and 1 million BTC, while blockchain analytics firm Arkham Intelligence places the figure closer to 1.09 million BTC. Back argued that coins left unmoved after such a transition could reasonably be considered lost.
Post-Quantum Migration and Security Transition
The proposed shift would involve moving Bitcoin to new quantum-resistant address formats using hash-based signature schemes. This would replace current cryptographic standards such as ECDSA and Schnorr signatures, which rely on elliptic-curve cryptography.
Back noted that users would likely be given sufficient time to migrate funds, reducing disruption while improving long-term security against future quantum threats. He added that Bitcoin developers still have a long runway, estimating that meaningful quantum risk is likely decades away.
Debate Over Quantum Risk and Network Preparedness
The discussion comes amid broader debate over Bitcoin’s vulnerability to future quantum computing advances. While some proposals suggest restricting movement of older coins, others argue for gradual migration to new cryptographic standards to preserve network integrity without forced asset freezes.
Disclaimer
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