Bitcoin developers and cryptocurrency advocates are once again debating how the network should handle Satoshi Nakamoto’s early Bitcoin holdings.
This debate is growing as concerns about quantum computing raise questions about old Bitcoin addresses and their future security.
Alex Thorne, head of corporate research at Galaxy Digital, said many Bitcoin developers and supporters agree that Satoshi’s original coin should remain untouched. He said he spoke with several market participants in Las Vegas about quantum risk and the safety of Bitcoin.
Thorne said the main concern is not just technical security. It also relates to Bitcoin ownership rules. “Satoshi’s coins should not be touched,” he said. He added that violating these property rights could undermine Bitcoin’s core value as a neutral money network.
Quantum risk reignites debate over old wallets
This discussion focuses on initial public key payment Bitcoin addresses. These addresses use an old structure and could become even more at risk if powerful quantum computers are able to break current encryption in the future.
Some users are worried that Satoshi’s coins will become a big target. Thorne said the risk is lower than many assume. He noted that Satoshi’s estimated coins reside in approximately 22,000 addresses, many holding 50 BTC each. This structure makes it difficult to perform widespread attacks.
Additionally, a big concern is what would happen if Satoshi’s coins were moved or stolen. Such an event would likely cause panic, as these coins have remained untouched since Bitcoin’s early days.
Thorne argued that the Bitcoin market has already experienced very large declines in the past. He suggested that many Bitcoin users may accept even significant drawdowns rather than approve of any coercive action against wallets linked to Satoshi. He said that “suffering a 50% drawdown” may be an acceptable trade-off to maintain ownership of Bitcoin.
Developers still monitoring quantum threats
Satoshi’s support for leaving coins alone does not mean the community is ignoring quantum computing. Developers continue to research post-quantum tools that could help protect Bitcoin users when risks become more real.
Active users, businesses, exchanges, and custodians can also move funds to new address types if they wish. This makes a large live wallet easier to protect than a dormant coin whose owner never gets it back.
