Glassnode Flags 7.12 Million Bitcoin With Exposed Public Keys Amid Quantum Security Concerns

Approximately 7.12 million Bitcoin $BTC, representing 35.4% of the circulating supply, are associated with publicly visible cryptographic keys, according to Glassnode. At recent market prices, the holdings represent roughly $500 billion in value.
Bitcoin transactions rely on digital signatures to prove ownership and authorize spending. Some address types reveal their public keys when coins are spent, while others expose public keys directly. Funds remaining in addresses with visible public keys could face additional risks if future quantum computers become capable of breaking the cryptographic systems used today.
Glassnode's findings highlight the potential importance of moving funds away from reused addresses and adopting stronger cryptographic protections over time. However, transferring Bitcoin to a fresh address does not universally eliminate quantum exposure, as the protection depends on the address type and how its public key is represented.
The reported figure does not mean that these coins can currently be stolen using quantum computers. Practical attacks against Bitcoin's signatures would require computing capabilities far beyond those publicly demonstrated. The longer-term challenge is developing and adopting quantum-resistant security before such capabilities become available.