Willy Woo has shared an idea for keeping Bitcoin
His solution is to move Bitcoin into SegWit wallets and leave it there for about seven years.
In a post on X, Woo described this as a temporary step. He explained that users could transfer their Bitcoin to a SegWit-compatible address and hold it there until a quantum-safe solution is developed.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is an Automated Market Maker in Crypto? (Animated)
SegWit, short for Segregated Witness, is an upgrade to the Bitcoin network introduced on August 23, 2017. One key feature of SegWit is that it hides a user’s public key until the Bitcoin is sent.
He noted that newer address types, such as taproot, display the public key in the address, which makes them at risk as quantum computing advances. Woo said:
In the past, it was about protecting your PRIVATE KEY (your seed phrase). In the age of big scary quantum computers (BSQC) that are coming, you need to protect your PUBLIC KEY also.
He also mentioned that Bitcoin managed by exchange-traded funds (ETFs), company treasuries, or professional custodians could remain safe if those entities take proper precautions.
According to Woo, most experts agree that quantum computing will not pose a serious risk to Bitcoin until after 2030. He added that researchers are already working on new standards and updates to guard against these threats.
Recently, Woo shared his view that Strategy, led by Michael Saylor, is not at risk of selling its Bitcoin holdings during the next major market downturn. How? Read the full story.
