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 Splits Bitcoin Into Several Wallets Amid Quantum Risk | The New York Ledger
El Salvador has actually rearranged its Bitcoin reserve holdings into 14 brand-new wallet addresses as a safety measure versus possible quantum computing dangers. ” By splitting funds into smaller sized quantities, the effect of a prospective quantum attack is lessened,” El Salvador’s Bitcoin Workplace stated in an X post Friday, including that each Bitcoin (BTC) address holds up to 500 BTC. The Bitcoin Workplace described that when funds are in…
Cointelegraph
El Salvador splits $678M Bitcoin across 14 wallets to reduce quantum risk
El Salvador has transferred its entire $678 million Bitcoin stash into 14 new wallet addresses as part of a measure to reduce the future threat of quantum computers.
El Salvador Strengthens Bitcoin Security with New Address Strategy
El Salvador Strengthens Bitcoin Security with New Address Strategy In a strategic move to enhance the security of its Bitcoin reserves, El Salvador has decided to distribute its holdings across multiple new addresses, departing from the practice of using a single address. The nation aims to increase both security and transparency through this maneuver.The National Bitcoin Office announced on platform X that each address would hold up to 500 Bitc…
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