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El Salvador to transfer Bitcoin reserves to multiple addresses
El Salvador moved 6,274 Bitcoin valued at $678 million into 14 wallets, capping each at 500 BTC to limit exposure from future quantum computing risks, officials said.
- On Friday, El Salvador's National Bitcoin Office announced the redistribution of 6,274 BTC from a single wallet into 14 new addresses.
- To reduce future quantum risk, the ONBTC said the single-address setup caused unnecessary exposure, prompting redistribution to mitigate theoretical quantum computing threats.
- Each new wallet is capped at 500 BTC to limit potential damage, and blockchain explorer data confirms transfers with a public dashboard published by ONBTC enabling reserve tracking.
- The change immediately spreads El Salvador's funds across 14 addresses, reducing exposure if one wallet is compromised, while traders and markets reacted calmly and officials hailed it as a blueprint for custodians and large holders.
- Experts note that quantum threats to Bitcoin remain largely theoretical, but the decision could prompt broader security reviews among governments, exchanges and custodians and upgrades by Bitcoin core developers and hardware makers.
40 Articles
40 Articles
El Salvador to transfer Bitcoin reserves to multiple addresses
El Salvador, the first country to make Bitcoin legal tender, will move its reserves of the popular cryptocurrency to multiple new addresses from the single address it previously used in order to improve security, it said on Friday.
El Salvador Strengthens Bitcoin Security with New Address Strategy
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El Salvador has taken a significant step to secure its National Strategic Bitcoin Reserve by redistributing funds from a single address into multiple new, unused addresses. The initiative, led by The Bitcoin Office, aims to enhance long-term custody and safeguard assets from potential quantum computing threats. Quantum computers, though still in development, have the theoretical capacity to break public-private key cryptography, which underpins …
El Salvador Fortifies Bitcoin Treasury Amid Quantum Threat Fears — Is This a Warning?
El Salvador, the world’s first nation to adopt Bitcoin as legal tender, has moved to strengthen the security of its national cryptocurrency reserve amid growing concerns over the threat posed by quantum computing. On Friday, the National Bitcoin Office announced that it had split the country’s holdi...
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