Arthur Hayes Says Quantum Computing Is No Reason to Sell Bitcoin. The Real Risk Is One Common Habit.
BitMEX co-founder Arthur Hayes says quantum computing fears have Bitcoin holders spooked for the wrong reason, and the actual vulnerability hiding in plain sight has nothing to do with the technology itself.
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Arthur Hayes, co-founder of BitMEX and known for his bold views on cryptocurrencies, says that fears over quantum computing shouldn’t push people to sell Bitcoin (CRYPTO:BTC). According to Hayes, the bigger Bitcoin quantum risk lies in a common practice among holders, reusing addresses. This means continuously receiving and spending coins from the same Bitcoin address.
His remarks come as Bitcoin trades at about $82,000 as of October 18, 2026, down 6.8% for the year and 23.4% over the past 12 months. As headlines about quantum computing surface, many anxious investors consider selling. But should these fears drive people away from Bitcoin, or just encourage a change in how they manage their wallets?
Reusing Bitcoin Addresses Exposes You to Quantum Attack Risks
Every Bitcoin address is linked to a unique key pair. The private key is the secret that allows the owner to spend the coins, while the public key is displayed on the blockchain to verify the owner’s transactions. Regular computers cannot reverse-engineer a private key from a public key, but a sufficiently advanced quantum computer could potentially achieve this.
Most modern Bitcoin addresses only display a hashed version of the public key, making it difficult for quantum computers to decode. The full public key appears on the blockchain when the owner makes their first transaction from that address.
If the owner stops using that address after spending, there’s no risk, as an empty address has no coins left to steal. However, if the owner keeps receiving coins at that address, those new coins rest behind an exposed public key and become a potential target for future quantum attacks.
Older address formats, along with the Taproot addresses introduced in 2021, reveal the public key right away. Research from Coinbase (NASDAQ:COIN | COIN Price Prediction) has highlighted around 20,000 addresses containing at least 50 BTC each that have exposed keys, and a September analysis counted about 6.9 million BTC behind those exposed keys.
Using a New Address for Each Payment Protects Your Public Key
The solution to this issue is simple. A new receiving address for every transaction keeps your public key hidden until you spend from it. Most modern wallets automatically generate a new address from the same backup seed phrase each time a user requests funds.
The Bitcoin Wiki notes that “the most private and secure way to use bitcoin is to send a brand new address to each person that pays you,” advising that addresses should not be reused once their coins are spent.
A few additional practices can enhance security. For those who have reused an address, transferring the balance to a brand-new address within the same wallet puts the coins back behind a hidden public key.
When withdrawing funds from exchanges, send each withdrawal to a newly generated address, as using a saved address removes this protection. For long-term savings, the safest option is to keep funds in a standard address that has received coins but never spent them.
Why Hayes’ View on Bitcoin Quantum Risk Holds Up
Quantum computers do not yet have the capability to break Bitcoin’s cryptographic security. Coinbase has suggested that preparing Bitcoin for post-quantum cryptography may take years, and its proposed roadmap does not require holders to take immediate action. This timing allows individual holders to address the risk they have direct control over, their wallet habits.
Buyers seem unfazed by the quantum concerns. Bitcoin rose 26.1% over the 60 days leading up to mid-October, even as warnings about quantum technology grew, suggesting major investors don’t see quantum computing as an immediate reason to sell.
The more significant hurdle lies with developers. Coins with already exposed keys, especially older coins that may remain unspent, cannot be secured by one person changing their address. A network-wide update would need consensus from developers, miners, and node operators, which could take considerable time.
Is Quantum Computing a Valid Reason to Sell Bitcoin?
We believe Hayes is correct. Instead of selling, the fear of quantum computing should motivate holders to tidy up their wallets, since using fresh addresses can prevent future attackers from accessing their public keys. Moving coins off a reused address takes a few minutes. Nevertheless, holders remain exposed to market risk, because fears about early, inactive coins with exposed keys could still affect Bitcoin’s price, even if their own holdings are secure.
Our perspective may shift if a lab successfully breaks a key based on Bitcoin’s elliptic-curve cryptography, or if developers set a firm deadline for implementing a post-quantum upgrade. Until then, address reuse appears to be the primary Bitcoin quantum risk for everyday holders, and it’s a risk they can address themselves.
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Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing
