Bitcoin Developer Coalition Floats BIP-361 to Freeze Quantum-Vulnerable Wallets

Bitcoin core developers are preparing for a quantum future with BIP-361, a proposed quick fix that would rewrite BTC's property rights guarantees.

What's the Scoop?

• Updated Proposal: BIP-361, a newly authored proposal from a group of Bitcoin core developers, outlines a plan to invalidate transactions from quantum-vulnerable wallets, effectively freezing the coins of wallets that fail to upgrade. By invalidating legacy signatures, the proposal would pressure holders to migrate to quantum-resistant wallets, or risk losing permanent access to their funds.
• Billions at Risk: Roughly 5.6M BTC (worth ~$420B and accounting for 28% of total supply) could be frozen under the proposal to prevent future quantum exploits. The tokens in question have been largely unmoved for over a decade, and include Satoshi Nakamoto's 1.1M BTC horde.
• Ugly Solution: Posting on X, BIP-361 co-author Jameson Lopp said he doesn’t support the proposal and hopes it’s never needed, but argues that “in the face of an existential threat, individual economic incentives outweigh philosophical principles.”

What's the Take?

Freezing coins for any reason would invalidate Bitcoin’s core promise of immutable ownership, introducing a precedent of intervention that could be more dangerous than the quantum threat itself.