A group of nine major companies, including BlackRock, Coinbase, Strategy (formerly MicroStrategy), Galaxy, Fidelity Digital Assets, Anchorage Digital, ARK Invest, Block, and Blockstream, has officially formed the Bitcoin Security Consortium to boost the long-term security of the Bitcoin network. The founding members have collectively pledged $15 million over the next three years to fund developers and researchers working on Bitcoin security, with a primary focus on post-quantum cryptography. The initiative will be coordinated day-to-day by Brink Executive Director Mike Schmidt in a volunteer capacity.
The consortium arrives amid growing concerns over the potential threat quantum computers pose to cryptographic systems, with estimates suggesting such machines could emerge as early as 2030. The group emphasized it will not govern Bitcoin’s protocol or take positions on protocol changes, leaving development to the decentralized community. Instead, member firms will independently direct capital to organizations they select. Strategy CEO Phong Le noted, “As long-term holders, we have every incentive to see Bitcoin remain secure for generations.”
The announcement follows Galaxy’s launch of its own Bitcoin Quantum Readiness Initiative, which committed up to $5 million in developer grants. It also comes after President Donald Trump signed executive orders accelerating U.S. quantum computing capabilities and mandating post-quantum cryptography migration for federal assets by 2031, a move that could indirectly benefit the crypto industry.
