According to Glassnode, 35.4% of the total Bitcoin supply, amounting to 7.12 million BTC, currently has exposed public keys on-chain as of November 10, 2026. This data highlights a potential vulnerability to future quantum computing advancements, as these keys could theoretically be used to derive private keys.
The exposure stems from several sources, with address reuse accounting for 25.8% of the total supply. Additionally, 11.6% of the exposed balance is held by exchanges. Legacy P2PK transaction outputs, which include coins attributed to Satoshi Nakamoto, hold approximately 1.71 million BTC, while Taproot outputs account for 222,000 BTC.
The trend shows a steady increase in exposure over time. The share of visible keys rose from 24.8% in early 2021 to 30.2% in May 2026 and 31.2% by October 2026. Independent data from ChainQuery corroborates these findings, placing the exposed supply at approximately 35.6% as of early November 2026.
While quantum computers capable of breaking current encryption standards do not yet exist, Glassnode suggests that users can mitigate risks by moving funds from reused addresses to newly generated ones. However, protocol-level challenges remain, particularly regarding legacy P2PK outputs where owners may be inactive or unreachable.
