El Salvador splits its Bitcoin reserves into 14 new wallet addresses to protect against potential quantum computing threats. Each address holds up to 500 BTC. If quantum computers can crack ECC keys, over 6 million Bitcoin worth $650 billion could be at risk, according to Project Eleven. The country previously held its $678 million Bitcoin stash in a single address, but it has now been redistributed into the new addresses. While El Salvador’s move was praised, experts note that quantum computing is not yet a threat to Bitcoin, as no quantum computer has cracked a 256-bit key. Michael Saylor downplays the threat, suggesting that upgrades can be made if necessary. El Salvador’s Bitcoin purchases are questioned after an IMF report claims no new purchases have been made since February. The country secured a $1.4 billion funding deal in exchange for scaling back its Bitcoin initiatives. The terms of the deal with the IMF are under dispute.
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