Huo Xing Cai Jing reports that on May 30, Andrew Gault, founding partner at deep tech investment firm 7percent Ventures and CEO of networking company ZeroTier, stated that the market is overly focused on the threat quantum computing poses to Bitcoin wallet private keys, while neglecting more urgent risks: encrypted communication data currently being transmitted among financial institutions and continuously collected. Gault noted that attackers are employing a “harvest now, decrypt later” strategy,大规模存储银行间通信、支付认证记录及数字签名等加密数据，等待未来具备足够能力的量子计算机出现后再进行破解。 He argued that the real danger lies not in statically stored data, but in authentication and signature information flowing daily between exchanges, custodians, cross-chain bridges, and financial institutions. In March of this year, Google’s Quantum AI team published research suggesting that a sufficiently powerful quantum computer could derive a Bitcoin private key from its public key in approximately nine minutes, sparking concerns over the security of roughly 6.9 million BTC with exposed public keys. However, Gault believes greater attention should be paid to encrypted network communications already collected. Google’s security team has shifted its risk focus toward digital signatures and identity authentication systems, planning to complete the migration to post-quantum cryptography by 2029. Google stated that “harvest now, decrypt later” attacks already constitute a real threat. Additionally, a February study by Citigroup estimated that if quantum computing compromised the encryption mechanisms securing U.S. major banks’ access to the Fedwire payment system, it could trigger an economic impact of $2 trillion to $3.3 trillion—equivalent to a 10% to 17% decline in U.S. real GDP. The report notes that while Ethereum has initiated a coordinated post-quantum migration plan, the Bitcoin network and major cryptocurrency exchanges and custodians have not publicly committed to similar upgrades of their signature infrastructure. Analysts suggest that as quantum computing technology continues to advance, the crypto industry may face increasing pressure to transition to post-quantum security in the future.
Quantum computing poses a greater risk to financial systems than Bitcoin private keys.
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Summary
Andrew Gault, founder of 7percent Ventures, warned that quantum computing poses a greater threat to financial systems than Bitcoin private keys, emphasizing the need for improved risk management. He highlighted the “collect now, decrypt later” strategy, in which attackers store encrypted data for future decryption. Google’s Quantum AI team estimated that a Bitcoin private key could be cracked in just nine minutes. Citi warned of a $2–$3.3 trillion impact if Fedwire’s encryption were compromised. While Ethereum is transitioning to post-quantum security, Bitcoin and exchanges are falling behind. Traders should evaluate the risk-reward ratio of holding assets in the pre-quantum era.
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