- Leading crypto market companies have joined forces for bitcoin.
- They have allocated $15 million to protect the network from quantum computers.
- BlackRock, Strategy, Coinbase, and others have joined the Bitcoin Security Consortium.
Leading financial institutions and bitcoin industry companies announced the launch of the Bitcoin Security Consortium — a new alliance that will fund research into the long-term security of the Bitcoin network, including preparations for the era of quantum computing.
The founders have already pledged a total of $15 million in funding over the next three years.
The initiative is intended to support Bitcoin Core developers and serve as an authoritative source of information on the security status of the first cryptocurrency.
The founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy, and Strategy. The consortium’s work will be coordinated by Mike Schmidt, executive director of the nonprofit organization Brink.
$15M for Bitcoin Security and Preparation for Quantum Era
Consortium members said they will fund independent developers, researchers, and organizations already working on bitcoin security. They plan to place particular emphasis on preparing the network for the potential emergence of quantum computers that could, in the future, threaten modern cryptographic algorithms.
At the same time, the organization stressed that:
- The consortium does not develop the bitcoin protocol
- It does not advocate specific changes to the network
- It does not represent Bitcoin Core developers or the broader bitcoin community
Its role is limited to funding, support, and the dissemination of verified information.
Phong Le, Strategy CEO, said:
“As long-term holders, we have every incentive to see Bitcoin remain secure for generations. Funding the people who do this work, and helping inform the conversation around it, is a natural way for us to contribute.”
A similar view was voiced by Robert Mitchnick, BlackRock’s head of digital assets:
“Bitcoin Core developers do incredibly important work, and we’re pleased that our firm and the others in this group will now be making significant additional funding available to support Bitcoin’s long-term security needs.”
Quantum Computers: a Threat or Not?
The consortium emphasized that there are currently no quantum computers capable of breaking bitcoin’s cryptography, and most realistic estimates push such a possibility years into the future.
However, due to the long development cycle for protocols, preparations for post-quantum cryptography need to begin now.
In particular, Blockstream CEO Adam Back previously called for starting an upgrade of the bitcoin network to protect against future quantum attacks. According to him, a dedicated team is already exploring possible blockchain compromise scenarios, and one of the first practical steps was the implementation of hash-based signatures on the Liquid network.
At the same time, Paradigm researcher Dan Robinson proposed the PACTs model, which allows owners of inactive wallets, including addresses from the Satoshi Nakamoto era, to preemptively prove control over funds without needing to move them.
Galaxy Digital’s head of research, Alex Thorn, also noted that the threat to so-called “Satoshi coins” may be smaller than is often assumed. According to him, these assets are spread across roughly 22,000 separate addresses, which significantly complicates a potential quantum attack.
Despite the uptick in discussion, far from all experts consider the quantum threat a key factor for the crypto market.
In particular, Grayscale’s head of research, Zach Pandl, previously said that “the risk to cryptography from quantum computers is likely not the main factor weighing on bitcoin’s price.”
At the same time, Ethereum developer Justin Drake recently warned about significant progress in quantum computing. In his view, after Google Quantum AI’s team improved Shor’s algorithm, the probability of the so-called Q-day — the moment when quantum computers will be able to break modern cryptography — by 2032 is about 50%.
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