The initiative targets quantum-resistant cryptography upgrades to secure 6.9 million bitcoin valued at $461 billion from future threats.
Galaxy Digital has established a $5 million fund to bolster Bitcoin’s defenses against potential quantum computing threats. The program will finance developers working on quantum-resistant signature schemes, wallet migration tools, and security audits to safeguard the blockchain network.
Experts warn that while quantum computers cannot currently break Bitcoin’s encryption, preparing for such risks could take years. Approximately 6.9 million bitcoin, worth $461 billion at current prices, may be vulnerable if quantum technology advances without adequate countermeasures.
The firm is accepting applications for grants under the Bitcoin Quantum Readiness Initiative and encourages other companies to contribute funding or research to accelerate adoption of new cryptographic standards.