A new study has revealed that quantum computers could potentially crack Bitcoin’s encryption in as little as nine minutes, raising serious concerns about the future security of cryptocurrency holdings. The research highlights vulnerabilities in current blockchain encryption methods.

According to cybersecurity experts, approximately 35% of existing Bitcoin could be at risk from quantum attacks. The threat centers on the cryptographic algorithms that protect private keys, which quantum computers could theoretically solve exponentially faster than traditional machines.

Cardano founder Charles Hoskinson has proposed solutions, including a hard fork that could protect future transactions but would be unable to secure early Bitcoin holdings, including those attributed to Satoshi Nakamoto. The debate has sparked intense discussion within the crypto community.

Meanwhile, major tech companies continue to advance their quantum computing capabilities. Google and IBM have both announced significant breakthroughs in quantum processing power, accelerating the timeline for practical quantum applications.

Security researchers recommend that cryptocurrency holders stay informed about quantum-resistant solutions and consider migrating to wallets that support post-quantum cryptography when such options become widely available.