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Concerns are fueled by recent practical results.
At the end of April, independent researcher Giancarlo Lelli hacked a 15-bit elliptic curve key using publicly available cloud quantum hardware, applying a variation of Shor's algorithm.
Startup Project Eleven called the event the largest public demonstration of a quantum attack on cryptography and awarded Lelli the Q-Day Prize of 1 BTC.
Project leader Alex Pruden stated: the practical barrier for such attacks is decreasing.
Google's April report confirms the trend: fully cracking Bitcoin will require less than 500,000 physical qubits, significantly fewer than previous estimates.