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