Nine institutional Bitcoin firms, including Strategy, BlackRock, and Coinbase, launched the Bitcoin Security Consortium on Thursday, pledging $15 million over three years. The group’s first priority is post-quantum cryptography — funding developers and researchers already working to secure the network against future quantum computers.
Nine institutional Bitcoin firms formed the Bitcoin Security Consortium on Thursday, pledging $15 million over three years to fund developers and security research for the network’s long-term protection. The founding members — Strategy, BlackRock, Coinbase, Galaxy, Fidelity Digital Assets, Anchorage Digital, ARK Invest, Block, and Blockstream — span holders, custodians, exchanges, infrastructure providers, payments companies, and asset managers.
The consortium named post-quantum cryptography as its first focus, noting that credible estimates place quantum computing capabilities years away. Brink Executive Director Mike Schmidt will coordinate the day-to-day work in a volunteer role.
Each member will direct its own capital independently. That makes the total an aggregate of separate pledges rather than a pooled fund.
What the group will and won’t do
The initiative will not develop or govern Bitcoin’s protocol, take positions on protocol changes, or speak for the network’s developers. Instead, it casts itself as a funder of the open-source work it relies on. Strategy CEO Phong Le called the funding a natural way for the firm to contribute, saying the firms have “every incentive to see Bitcoin remain secure for generations.”
An industry-wide quantum push
Companies and governments are expanding efforts to ready cryptographic systems for quantum computing. Galaxy earlier this week launched its own Bitcoin Quantum Readiness Initiative, committing up to $5 million in developer grants. Last month, President Donald Trump signed two executive orders to speed U.S. quantum computing, including a push for full post-quantum cryptography migration for federal high-value assets by the end of 2031.
Views on the timeline diverge. Project Eleven warned in May that roughly 6.9 million bitcoins could be at risk to quantum computers under certain conditions, pegging a potential “Q-Day” as early as 2030. Coinbase research has estimated that between 20% and 50% of Bitcoin’s supply could face exposure to a long-range quantum attack.
Blockstream founder Adam Back, by contrast, has called the threat decades away. A prediction market currently prices a 14% chance quantum computing breaks Bitcoin by December 2027.
Sources: Strategy, The Block, Bitcoin Magazine, CoinGape
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