Quantum computing research firm Project 11 has launched a bold competition to test just how dangerous quantum computers could be for Bitcoin. The “Q-Day Prize,” announced on April 16, offers 1 Bitcoin (around $84,000) to anyone who can crack part of a Bitcoin private key using a quantum computer by April 5, 2026.
The mission? Use Shor’s algorithm on a real quantum computer — no classical computing shortcuts allowed. Even breaking a small portion of a Bitcoin key would be a breakthrough.
“Over 10 million Bitcoin addresses have exposed public keys,” Project 11 warned on X. “Yet, no one has benchmarked how real the quantum threat really is.”
The challenge aims to push the limits of current quantum computing and prove whether Bitcoin’s elliptic curve cryptography (ECC) is still safe. If quantum computers advance fast enough, they could eventually unlock over 6 million Bitcoin — worth roughly $500 billion.
Project Eleven says quantum platforms like IBM and AWS already offer early access to quantum chips. IBM’s Heron chip can handle 156 qubits, while Google’s Willow chip can manage 105. Experts estimate around 2,000 error-corrected qubits could break a full 256-bit ECC key.
Still, crypto experts like Jameson Lopp and Tether CEO Paolo Ardoino say there’s no immediate panic. But they agree the industry must start planning for a quantum-secure future.
If someone wins the Q-Day Prize, they won’t just take home 1 Bitcoin — they could make cryptography history.
Also Read: Bitcoin Dev Proposes Burning Old Coins to Counter Quantum Attack
