Over 7 Million Bitcoins Are Exposed to Quantum Risk: What Does This Number Mean?

Glassnode’s Nov. 10 analysis found that 7.12 million BTC—35.4% of circulating supply—have exposed public keys, making them potential targets for sufficiently powerful future quantum computers. The figure covers coins whose keys are visible on-chain, a broader exposure set than the often-cited Satoshi-era P2PK holdings alone. The report matters because quantum risk has shifted from a theoretical talking point to a measurable share of Bitcoin’s supply, with implications for custody practices and address reuse. Watch for Glassnode’s follow-up breakdown of which address types and wallet cohorts account for the exposed coins, and for any movement of long-dormant BTC as the industry debates migration to quantum-resistant addresses.