Project Eleven Warns Q-Day Could Hit as Early as 2030, With 6.9M Bitcoin at Risk

According to Project Eleven's Wednesday report, quantum computers could break modern encryption as early as 2030, with the startup estimating that 6.9 million bitcoins, worth more than $560 billion, could be exposed to quantum risk under certain conditions.

The post-quantum security-focused startup said a breakthrough is "more likely than not" by 2033, predicting that quantum advancements will occur in sudden leaps rather than gradual progression. Last month, a researcher demonstrated this potential by deriving a 15-bit elliptic curve key using quantum hardware, though this remains far from the 256-bit encryption currently used in cryptocurrencies like Bitcoin.