Strategy-led group pledges $15M to quantum-proof Bitcoin network

cointelegraphPublished on 2026-07-27Last updated on 2026-07-27

Abstract

A group of major financial and cryptocurrency firms, led by Michael Saylor's MicroStrategy, has formed the Bitcoin Security Consortium and pledged $15 million over three years to fund efforts to quantum-proof the Bitcoin network. Founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, and Galaxy. The consortium's work will be coordinated by Mike Schmidt of the non-profit Brink. The initiative addresses growing concerns about the threat quantum computers could pose to Bitcoin's cryptographic security, though timelines for such a threat vary widely among experts—from 3-5 years to 20-40 years. The funding aims to support developers working on quantum-resistant solutions for the long-term security of the network.

Michael Saylor’s Strategy announced the launch of the Bitcoin Security Consortium, a group of financial institutions and Bitcoin companies supporting the long-term quantum security of the Bitcoin network.

The consortium pledged an aggregate $15 million over the next three years to support developers securing the Bitcoin network against the threat of a quantum computing breakthrough, Strategy announced in a Thursday press release.

Other founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets and Galaxy. The consortium’s day-to-day work will be coordinated by Mike Schmidt, who serves in a volunteer capacity and is the executive director of Brink, a non-profit that supports Bitcoin open-source developers.

On Wednesday, Galaxy Digital pledged up to $5 million in grants for developers working on Bitcoin’s quantum security and elected a council of quantum-advisory experts to research quantum-resistant migration solutions.

Bitcoin’s quantum security is a growing concern in the community, though the timeline of a quantum breakthrough remains hotly debated. In November 2025, Blockstream CEO Adam Back said that Bitcoin faces no meaningful quantum threat for at least the next 20 to 40 years.

In contrast, an April report from investment manager Bernstein said that Bitcoin has about three to five years to prepare for a post-quantum security upgrade.

BlackRock’s global head of digital assets, Robert Mitchnick, said that Bitcoin core developers do “incredibly important work” and that the asset management company was pleased to make “significant additional funding available to support Bitcoin’s long-term security needs.”

Magazine: Bitcoin’s quantum upgrade path: What BIP-360 changes and what it does not

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Related Questions

QWhat is the purpose of the Bitcoin Security Consortium announced by MicroStrategy?

AThe purpose of the Bitcoin Security Consortium is to support the long-term quantum security of the Bitcoin network. It is a group of financial institutions and Bitcoin companies pledging funds to secure the network against the threat of a quantum computing breakthrough.

QHow much funding has been pledged to the Bitcoin Security Consortium over the next three years?

AAn aggregate of $15 million has been pledged to the Bitcoin Security Consortium over the next three years to support developers working on Bitcoin's quantum security.

QName at least five founding members of the Bitcoin Security Consortium.

AFounding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, and Galaxy.

QWhat conflicting timelines regarding Bitcoin's quantum security threat are mentioned in the article?

AThe article mentions conflicting timelines. Blockstream CEO Adam Back suggested Bitcoin faces no meaningful quantum threat for at least 20 to 40 years, while an April report from Bernstein said Bitcoin has about three to five years to prepare for a post-quantum security upgrade.

QWho will coordinate the day-to-day work of the Bitcoin Security Consortium and what is his primary role?

AMike Schmidt will coordinate the consortium's day-to-day work. He serves in a volunteer capacity and is the executive director of Brink, a non-profit that supports Bitcoin open-source developers.

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