POPA ReconBitcoin’s reported quantum exposure
Yes. Glassnode co-founder Rafael reported that 6.26 million BTC, or 31.2% of supply, sits behind public keys already visible on-chain, up from 24.8% in early 2021. Glassnode attributes about 4.33 million BTC to address reuse and 1.94 million BTC to output types including P2PK and Taproot. The separate figures are rounded, so they do not sum exactly to the reported total. Rafael’s post Glassnode’s breakdown
What that means for holders
A visible public key is not a private key. The statistic measures on-chain exposure, not a current ability to spend those coins or evidence of an attack. It matters because a sufficiently capable quantum computer could use a public key to derive its private key. Glassnode’s May research described this as exposure “at rest” and said it did not assess whether or when practical quantum attacks would become possible. Glassnode’s research Bitcoin Optech explains that Taproot outputs use public keys directly, while hash-locked public keys are revealed when spent. Bitcoin Optech on Taproot Bitcoin Optech on quantum resistance
Whether to move funds
Glassnode’s co-founder says at least the exposed balance would need to move to addresses whose public keys remain hidden behind a hash to reduce this measured exposure. That is a precautionary migration idea, not proof that holders face an immediate theft threat. Rafael’s post The data do not establish that quantum computers can currently derive Bitcoin private keys or that any exposed coins have been attacked.