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BTC has already fallen below 70K.
Those who said it would hit 120K by year-end, come out and take a lap!
Those who confidently said the bull market was here, come out and take a lap!
There’s actually another huge risk that hasn’t been priced in, one that could put BTC through a brutal ordeal.
Right now, 7.12 million bitcoin:native public keys are exposed directly on-chain, accounting for 35.4% of the total supply.
Once quantum computing crosses the critical threshold, this massive stash will be a cash machine for hackers.
The main culprit is address reuse, which accounts for 73% of the exposure risk. Addresses reused by exchanges account for 11.6% of the total.
As soon as you transfer BTC out of an address, its public key is exposed, so never deposit funds into an old address again.
Moving your funds to an unused hash address can keep them safe, such as a standard SegWit bc1q address.
But beware of Taproot addresses (bc1p): even a freshly generated address will still expose its public key on-chain.
The hardest problem is Satoshi’s ancient, dormant coins.
No one can move them, and the BIP 360 and 361 proposals are still arguing over how to handle this dead money.
For now, all you can do is make sure your own BTC is safe, carry on as usual, and don’t take any chances.