BitGo CEO Urges Bitcoin to Adopt BIP-361 as Quantum Threat Looms Over 250 Institutions
Updated
Updated · Crypto Briefing · Jul 7
BitGo CEO Urges Bitcoin to Adopt BIP-361 as Quantum Threat Looms Over 250 Institutions
1 articles · Updated · Crypto Briefing · Jul 7
Summary
Mike Belshe told roughly 250 institutional Bitcoin decision-makers at BFC in New York that Bitcoin should begin shifting to post-quantum cryptography before quantum computers can break its current elliptic-curve security.
BIP-361, formally introduced on April 15, 2026, has emerged as the leading proposal, outlining a phased migration in which quantum-resistant signatures coexist with current methods before eventually replacing them.
BitGo backed that argument with a proof point, saying it completed the first quantum-resistant transaction on the Ethereum testnet ahead of the symposium.
That gradual approach is designed to avoid an immediate hard fork, a politically fraught path in Bitcoin after the 2017 block-size wars, and could improve the proposal's chances of winning consensus.
Will the quantum-proof upgrade make Bitcoin too slow and expensive, sacrificing its utility for the sake of security?
Can Bitcoin survive the quantum threat without sacrificing its core principles of decentralization and immutability?
Will the plan to save Bitcoin from quantum computers permanently freeze Satoshi Nakamoto's legendary fortune?
Bitcoin’s $600 Billion Quantum Risk: The BIP-361 Debate and the Urgent Race for Post-Quantum Security
Overview
The cryptocurrency industry is facing an urgent threat from quantum computing, as highlighted by Coinbase's Quantum Advisory Council in April 2026. Their position paper warned that a powerful quantum computer will eventually be built, making current cryptographic protections like Bitcoin's ECDLP-256 vulnerable. In response, BIP-361 was introduced as a critical solution, aiming to guide the industry through a phased migration to quantum-resistant security. Coinbase is also preparing to launch quantum-proof custody services. The report shows that immediate action is needed to protect digital assets before quantum computers can break existing cryptography.