Binance founder CZ eyes $1M Bitcoin as quantum computing threat looms larger

Changpeng Zhao stood on stage at Bitcoin Asia in Hong Kong on August 27 and made two predictions that sit in direct tension with each other. First: Bitcoin will hit $1 million “much quicker” than 25 years. Second: quantum computers are advancing fast enough that the network needs to start preparing its defenses now, not later.

The $1M case and the quantum catch

CZ’s price call wasn’t especially nuanced. He told the Hong Kong audience that Bitcoin would eventually become more important than gold. What made it notable was the timeline: he explicitly rejected the idea that a seven-figure Bitcoin is a quarter-century away, suggesting the path there could be considerably shorter.

Bitcoin’s security relies on elliptic-curve cryptography, specifically a standard called secp256k1. A paper published by Google Quantum AI on March 30, 2026, recalibrated the math on how many qubits a quantum machine would need to break secp256k1. Previous estimates suggested millions of qubits would be required. Google’s revised modeling brought that number down to under 500,000 physical qubits.

The Satoshi problem

In June 2026, CZ floated a proposal that touched one of crypto’s most sensitive nerves. He suggested the community consider implementing a 6-to-12 month migration window during which networks would adopt quantum-resistant upgrades. After that window closed, dormant Bitcoin sitting in vulnerable addresses could potentially be frozen.

That includes an estimated 1 to 1.1 million BTC believed to belong to Satoshi Nakamoto. An attacker who cracks Satoshi’s holdings would suddenly control roughly 5% of Bitcoin’s total supply.

The broader vulnerability extends well beyond Satoshi’s stash. Expert estimates put the amount of Bitcoin sitting in addresses with exposed public keys at roughly 6.9 to 7 million BTC. That’s approximately one-third of the entire circulating supply.

No such machine exists today. Binance’s Chief Security Officer Jimmy Su said as much on August 12, noting that current quantum hardware lacks both the scale and the reliability to threaten Bitcoin or any other major digital asset. The more immediate security concerns, he emphasized, remain decidedly old-school: phishing attacks, social engineering, and operational mistakes.

Building the defenses before the siege

Bitcoin Improvement Proposal 360, or BIP-360, has been gaining traction as a framework for introducing post-quantum address types to the Bitcoin network. The idea is to create new address formats that rely on cryptographic algorithms believed to be resistant to quantum attacks, giving users a safe harbor to migrate their holdings into.

CZ has publicly supported the shift to post-quantum algorithms, though he’s also acknowledged the coordination challenge. Bitcoin is a decentralized network with no CEO, no board, and no ability to push mandatory software updates.

What this means for the market

For individual holders, the practical takeaway is straightforward. Bitcoin stored in addresses where the public key has been exposed, typically addresses that have previously sent transactions, carries more quantum risk than Bitcoin in fresh, unused addresses. BIP-360 and similar proposals aim to eventually make the distinction irrelevant, but until those upgrades are implemented and widely adopted, address hygiene matters.

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