A group of nine companies has formed the Bitcoin Security Consortium, a new initiative aimed at supporting the long-term security of the Bitcoin network through funding for developers, security research, and post-quantum cryptography efforts.
The founding members include Strategy, BlackRock, Coinbase, Galaxy, Fidelity Digital Assets, Anchorage Digital, ARK Invest, Block, and Blockstream, representing Bitcoin holders, custodians, exchanges, infrastructure providers, payments companies, and asset managers.
The consortium's day-to-day activities will be coordinated by Brink Executive Director Mike Schmidt in a volunteer capacity, Strategy said in a statement on Thursday.
According to the statement, founding members have collectively pledged $15 million over the next three years to support developers and researchers already working on Bitcoin security.
Each member firm will direct its own capital independently to the organizations it chooses.
The consortium identified post-quantum cryptography as its first area of focus, noting that credible estimates place quantum computing capabilities years away. Preparing Bitcoin for potential long-term cryptographic risks remains an ongoing priority for the technical community, according to the statement.
"As long-term holders, we have every incentive to see Bitcoin remain secure for generations," Strategy CEO Phong Le said. He added that funding security research and informing public conversation about the issue was a natural way for the firm to contribute.
Per the statement, the initiative will not develop or govern Bitcoin's protocol, take positions on protocol changes or speak on behalf of Bitcoin developers, leaving protocol development to the network's decentralized open-source community.
Industry steps up post-quantum Bitcoin preparations
The consortium's launch comes as companies and governments are expanding efforts to prepare cryptographic systems for the eventual arrival of quantum computing.
Galaxy earlier this week launched its own Bitcoin Quantum Readiness Initiative, committing up to $5 million in developer grants for post-quantum cryptographic tools alongside a research program and an advisory council focused on quantum computing risks to Bitcoin.
Last month, President Donald Trump signed two executive orders aimed at accelerating U.S. quantum computing capabilities, including a push for full post-quantum cryptography migration for federal high-value assets by the end of 2031.
The orders do not mention Bitcoin directly, but Project Eleven CEO Alex Pruden said they could accelerate post-quantum cryptography development across the federal contractor base, benefiting the crypto industry.
Project Eleven, a startup focused on post-quantum security, warned in May that roughly 6.9 million bitcoins could be at risk to quantum computers under certain conditions.
The firm pegged the potential arrival of quantum computers capable of breaking modern encryption, often referred to as "Q-Day," as early as 2030, with estimates ranging a few years in either direction.
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