Is quantum computing a real long-term threat to crypto, or just another fear narrative?

Quantum computing is getting a lot more attention now because of federal funding, NIST post-quantum cryptography standards, and the 2030-2035 migration timelines for government systems.

That made me think about crypto.

Most people talk about quantum like it is either fake sci-fi or an instant Bitcoin killer. I think the truth is probably somewhere in the middle.

A cryptographically relevant quantum computer does not seem to be here yet. But governments are clearly taking the threat seriously enough to push post-quantum cryptography migration.

That raises a few questions:

When do blockchains need to take quantum risk seriously?
Which chains are most exposed?
Can upgrades happen smoothly?
Does quantum risk matter more for old exposed public keys?
Will “quantum-safe” become a crypto narrative before it becomes a real technical emergency?

I’m not saying quantum kills crypto tomorrow. But I also don’t think it is something to ignore for the next decade.

Are any crypto projects actually preparing for this in a serious way?