Bitcoin faces renewed scrutiny over the potential threat posed by quantum computing, with analysts estimating that around 1.7 million BTC, valued at approximately $145 billion, could be vulnerable if a sufficiently powerful quantum computer emerges. However, market data indicates that even a significant sell-off from these early wallets would likely be manageable, as historical trends show that similar volumes of sell-side pressure have been absorbed without catastrophic outcomes.
In past cycles, long-term holders have routinely distributed between 10,000 and 30,000 BTC daily, meaning the potential release from Satoshi-era wallets could equate to just two to three months of typical profit-taking. Furthermore, during the last bear market, over 2.3 million BTC changed hands in a single quarter without causing systemic collapse, suggesting the market’s resilience.
The critical issue may not be the mechanical sell pressure but rather the governance surrounding the potential freezing of these coins. As discussions around BIP-361 evolve, market participants will need to monitor how governance decisions could impact Bitcoin’s future stability and liquidity.
Source: coindesk.com