Satoshi Nakamoto’s $81 Billion Bitcoin Fortune Could Be Locked Forever Under New Quantum Security Proposal

A group of Bitcoin developers and quantum experts has introduced a proposal to permanently deactivate wallets vulnerable to future quantum computer attacks. The plan involves upgrading the blockchain to eventually reject transactions from older pay-to-public-key wallets, which currently hold approximately 34% of all Bitcoin. This move aims to secure the network against potential decryption threats but has sparked significant debate over Bitcoin’s core principles of immutability and neutrality.

A group of six Bitcoin developers, including prominent figure Jameson Lopp, has proposed a time-boxed transition to quantum-resistant cryptography to safeguard the network from emerging supercomputing threats. The proposal suggests that within three years, the blockchain should only allow transfers to wallets utilizing quantum-resistant security measures. Two years following that milestone, the network would begin rejecting all transactions that rely on vulnerable, older cryptographic methods. This strategy is designed to eliminate honeypots for quantum attackers, as a report from consulting firm McKinsey & Company suggests that a cryptographically-relevant quantum computer could emerge as early as next year.

The proposal specifically targets pay-to-public-key (P2PK) wallets created before 2012, which currently house roughly 34% of the total Bitcoin supply. Unlike modern hashed addresses, these older wallets expose the user's full public key on the blockchain, making them the primary targets for quantum decryption. Among these vulnerable holdings are the wallets belonging to Bitcoin’s anonymous creator, Satoshi Nakamoto, which contain approximately $81 billion worth of the asset. Because Nakamoto and many other early holders have been inactive for over a decade, their coins would likely be permanently locked away if they fail to migrate to new wallet standards within the proposed five-year window.

While the authors argue that a clear, time-boxed pathway is the only credible defense against quantum theft, the proposal has faced immediate backlash from the Bitcoin community. Critics contend that deactivating wallets is an authoritarian measure that punishes long-term holders and violates the network's commitment to being a neutral and immutable asset. Jameson Lopp acknowledged the controversy, stating that while he personally dislikes the proposal, he views it as a necessary evil compared to the alternative of widespread network compromise. The developers emphasize that the longer the migration is postponed, the harder it becomes to coordinate the necessary changes across wallets, exchanges, miners, and custodians.