Cardano founder Charles Hoskinson said a proposed Bitcoin upgrade aimed at protecting funds from quantum computing will fail to secure all vulnerable coins.
The proposal, known as BIP-361, seeks to safeguard up to 7 million Bitcoin—around 34% of supply—by freezing coins that do not migrate to quantum-resistant addresses.
“That’s a lie,”
Said Charles Hoskinson, adding that;
“It’s not possible to recover all affected coins under the plan.”
Hoskinson argued that as many as 1.7 million Bitcoin, largely from wallets created before 2013, would remain exposed even if the proposal is implemented.
He warned that older holdings, including an estimated 1.1 million Bitcoin linked to Satoshi Nakamoto, could still be at risk if quantum computing capabilities advance as expected. Following the announcement the Bitcoin price was unchanged at $XX.
The proposal comes as concerns grow over “Q-Day,” when quantum computers could break existing cryptography, with major firms like Google targeting a transition to post-quantum systems by 2029.
Despite criticism, Hoskinson said the proposal reflects urgency within the Bitcoin community, though he argued that stronger on-chain governance models could better address long-term security challenges.
At the time of reporting, Bitcoin price was $74,932.34.