Six Million Bitcoin Tokens Exposed to AI-Related Security Fears
Glassnode data indicates more than six million bitcoins sit on public keys already visible on the blockchain, representing 31.2% of circulating supply. The exposed supply has grown by 222,000 BTC since May, with exchanges accounting for much of the increase. Justin Drake warns that advances in AI and quantum computing could make current wallet cryptography vulnerable, urging the industry to prepare.
Glassnode’s data show over six million bitcoins are held at addresses whose public keys can already be seen on the ledger, equal to 31.2% of circulating supply. Since May, this group grew by 222,000 BTC, worth about $18.2 billion, while total bitcoin supply rose only 64,000 BTC. Exchanges added 123,000 BTC and now hold 1.79 million BTC in this category.
Exposure rates vary: Binance 83%, Coinbase 10%, Fidelity 2%, Grayscale 49%, Revolut 99%, Robinhood 100%. Glassnode excludes U.S., U.K., and Salvadoran government holdings. Visible keys can result from address reuse or transaction types like old pay-to-public-key and Taproot outputs; visibility alone does not mean funds are compromised.
If these warnings gain traction, bitcoin holders, exchanges, and custodial services could face pressure to reduce public-key exposure and adopt stronger defenses. Markets may react to uncertainty with volatility, while long-term investors might reassess how safely assets are stored. Advances in AI or quantum computing could also push the wider financial sector to prioritize cryptographic migration and clearer risk disclosure. The impact may fall hardest on users and platforms with older or highly visible wallet setups, though concrete breaks remain speculative.