TLDR;
- BlackRock has officially flagged quantum computing as a long-term threat to Bitcoin security in its latest ETF filing.
- Quantum computers could one day reverse Bitcoin’s encryption, potentially exposing wallets and transactions.
- While experts agree the threat is at least a decade away, institutions are preparing now.
- Initiatives like Project Eleven and ongoing research are already testing Bitcoin’s quantum resilience.
BlackRock, the world’s largest asset manager, has issued a stark warning about the long-term threat quantum computing poses to Bitcoin.
The concern was quietly embedded in a recent filing for its iShares Bitcoin Trust (IBIT), submitted earlier this month. In the document, BlackRock noted that the rapid development of quantum technology could “undermine the viability” of the cryptographic systems that form Bitcoin’s foundational security. It’s a rare institutional acknowledgment of what has long been considered a distant or theoretical risk.
Quantum Threat to Bitcoin
While ETF disclosures typically cover a broad range of risks, BlackRock’s inclusion of quantum computing suggests that institutional players are now taking this scenario more seriously. For an asset manager overseeing more than $11.6 trillion, this isn’t just a nod to exhaustive due diligence, it’s a signal.
“Blackrock naming quantum computing as an existential threat to Bitcoin is an important acknowledgement of the seriousness of this threat (and by the way this disclosure applies to other digital assets, like ETH & SOL, too).’ Alex Pruden, CEO of quantum focused firm Project Eleven noted. “If you’re a die-hard BTC hodler, fixing this problem should be among the highest priorities.”
Quantum Threats Still Distant — But Not Dismissed
Notably, most researchers agree that practical, large-scale quantum computers capable of threatening Bitcoin are still 10 to 20 years away. Nonetheless, the window of risk, such as the brief time after a transaction is signed but before it’s confirmed, could become vulnerable in a post-quantum world. This vulnerability could theoretically allow malicious actors to reverse-engineer private keys, leading to potential theft of funds.
Tether CEO Paolo Ardoino has recently echoed similar concerns in recent months but believes users will migrate to quantum-resistant addresses long before any real threat materializes.
Project Eleven and the Quantum Race
The broader crypto industry isn’t sitting idle. Notably, last month, Project Eleven launched the Q-Day Prize, offering 1 BTC to anyone who can break ECDSA encryption using quantum methods like Shor’s algorithm. The contest, which is still running aims to evaluate just how close quantum developers are to achieving the impossible.
We just launched the Q-Day Prize.
1 BTC to the first team to break a toy version of Bitcoin’s cryptography using a quantum computer.
Deadline: April 5, 2026
Mission: Protect 6M BTC (over $500B)— Project 11 (@qdayclock) April 16, 2025
This follows reports in late 2024 when Chinese scientists claimed to carry out a “successful attack” on a widely used encryption algorithm using quantum tech. While many experts have since downplayed its real-world impact, it underscores how seriously this threat is now being taken.
That said, BlackRock’s filing may not predict imminent danger, but it highlights a growing consensus that Bitcoin and other cryptocurrencies must evolve. The question is no longer if quantum computing will arrive but when. And when it does, the digital asset ecosystem must be ready.
