BlackRock, Coinbase, Strategy in group pledging $15 million to prepare Bitcoin for quantum threats
CoinDesk 2026-07-23 12:54:27
Context: A consortium of nine major cryptocurrency firms, including BlackRock, Coinbase, and Fidelity Digital Assets, has pledged a combined $15 million over three years to support Bitcoin security research and open-source development. The group, known as the Bitcoin Security Consortium, aims to prepare Bitcoin for potential threats from advances in quantum computing. The funding will be directed independently by member companies, with no role for the consortium in Bitcoin governance or protocol decisions.
Key Facts
- The Bitcoin Security Consortium consists of nine member companies: BlackRock, Coinbase, Strategy, Anchorage Digital, ARK Invest, Block, Blockstream, Fidelity Digital Assets, and Galaxy.
- The consortium has pledged a combined $15 million over three years to support Bitcoin security research and open-source development, with member companies directing funding independently.
- The group will focus on preparing Bitcoin for advances in quantum computing, with a particular emphasis on post-quantum research and potential defenses against future quantum computing threats.
- Approximately 6.9 million bitcoin could be vulnerable if sufficiently powerful quantum computers emerge, according to research from CryptoQuant.
- Galaxy has launched a separate $5 million initiative for quantum-resistant signatures, wallet migration tools, and security audits, although it is unclear whether this commitment is included in the $15 million total pledged by the consortium.