Bitcoin public-key exposure reaches 35.4%, reviving quantum debate

Bitcoin’s publicly exposed supply has reached 7.12 million BTC, or 35.4% of issued coins, according to Glassnode, renewing discussion about which holdings a future quantum computer could target. Glassnode puts Bitcoin held behind visible public keys at 7.12 million BTC. Address reuse accounts for 25.8% of supply, including 11.6% held on exchanges. Bitcoin’s quantum proposals remain drafts, with separate plans for exposure reduction and signature migration. Glassnode said in its Nov. 10 X post that more than a third of Bitcoin’s supply now has a visible public key, publishing a chart that separates exposure by address type and reuse. Its exchange figure sits within the address-reuse category, so adding the two percentages would double-count part of the total.

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