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Bitcoin Developers Debate Freezing Satoshi Nakamoto's Coins to Counter Quantum Risks

A proposed Bitcoin Improvement Proposal aims to protect early untouched wallets from future quantum computing attacks by freezing exposed public keys.

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An estimated 1.1 million bitcoin attributed to creator Satoshi Nakamoto remain untouched across early network addresses, representing approximately 5.5% of the 20.10 million coins in circulation. At a recent price of $83,045, these holdings are valued at roughly $91 billion or 81.5 billion euros. The estimate is based on the 2013 research of computer scientist Sergio Demian Lerner, who identified a distinct mining pattern in blocks produced between the network launch on January 3, 2009, and Nakamoto's departure in spring 2011.

These early coins reside in pay-to-public-key (P2PK) addresses, where public keys are openly visible on the blockchain. A developer proposal known as BIP-361 suggests freezing these funds before advancing quantum computers can derive private keys from exposed public keys to execute unauthorized transfers.

The draft notes that over 34% of all circulating bitcoin had exposed public keys as of March 1, 2026. While BIP-361 authors point to quantum development timelines that could see viable machines emerge between 2027 and 2030, other experts anticipate a substantially longer timeframe for such capabilities.

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