Paolo Ardoino, the chief executive officer at stablecoin giant Tether, has predicted that the Bitcoin holdings of Satoshi Nakamoto might be put back in circulation in the future.
The wallets of the Bitcoin creator could be potentially hacked due to lacking quantum resistance.
Quantum computing is “far away”
As reported by U.Today, the introduction of Willow, Google’s powerful quantum computing chip, ignited concerns about Bitcoin’s safety in late 2024.
However, some analysts were quick to explain that Willow was not even remotely powerful enough to crack Bitcoin’s encryption. Breaking the ECDSA algorithm would require roughly 1 million qubits.
Ardoino has opined that quantum computing is still “far away” from breaking the cryptography of the leading cryptocurrency.
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At the same time, he says that quantum-resistant addresses will eventually be added to Bitcoin if there is an actual threat.
Those who still have access to their wallets will be able to move their coins to the new types of addresses.
Is Satoshi still alive?
There has been plenty of speculation about the identity of Satoshi, and HBO recently added more fuel to the fire with its recent documentary that was meant to unmask the creator of Bitcoin. The documentary was widely panned after identifying Canadian developer Peter Todd as Satoshi, which does not see even remotely probable to the vast majority of the community.
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As reported by U.Today, cryptocurrency mogul Mike Novogratz believes that Satoshi is no longer alive.
Satoshi’s current Bitcoin holdings stand at 1.1M BTC. If they are still alive, they would be wealthier than Microsoft co-founder Bill Gates.
