Quantum computing poses a significant threat to Bitcoin's security, with approximately 34% of the cryptocurrency's circulating supply at risk, according to Bloomberg. This vulnerability arises from quantum computers' ability to potentially crack cryptographic algorithms, allowing them to derive private keys from public keys and access on-chain assets. Early Bitcoin address formats and wallets that reuse addresses are particularly susceptible. Galaxy Digital research estimates that this risk could affect Bitcoin holdings worth around $470 billion. In response, Coinbase has established an advisory board, and Michael Saylor's Strategy has initiated a related risk project. Experts suggest that transitioning to a quantum-resistant cryptographic system is feasible but would require extensive global coordination, significant time, and resources, potentially leading to governance challenges akin to Ethereum's "Merge" and Bitcoin's block size debate.