Nine firms commit $15 million to fund Bitcoin security research amid rising quantum-computing concerns over the next three years.
$BLK, $COIN, and $MSTR are among nine firms allocating $15 million to a Bitcoin Security Consortium. The group targets long-term security threats, including post-quantum cryptography, with funding directed over three years.
The consortium includes Anchorage Digital, ARK Invest, $XYZ, Blockstream, Fidelity Digital Assets, and $GLXY. Members will independently decide funding allocations, avoiding a centralized grant committee. Brink’s Mike Schmidt will coordinate efforts voluntarily.
The initiative responds to institutional concerns about quantum computing breaking Bitcoin’s cryptography. While large-scale quantum computers remain years away, firms with Bitcoin exposure aim to preempt risks through developer funding and research.