Google researchers have updated their estimates regarding the computational power needed to break Bitcoin's encryption, revealing that a future quantum computer might require fewer than 500,000 physical qubits to solve the elliptic curve discrete logarithm problem, a key vulnerability in Bitcoin's security. This is a significant reduction from earlier estimates that suggested millions of qubits would be necessary. The research outlines two quantum circuit designs capable of executing Shor’s algorithm with under 1,500 logical qubits. Google aims to raise awareness within the cryptocurrency community about the potential risks posed by quantum computing and encourages preparations, including transitioning to post-quantum cryptography, which is being developed to resist quantum attacks. The company has adopted a controlled disclosure strategy to share findings while minimizing risks of misuse. Despite the potential solutions available, the implementation of these new cryptographic methods across decentralized networks is expected to be gradual, necessitating early planning and risk mitigation strategies.