Bitcoin Security Consortium Launched with $15 Million Pledge

Nine companies have launched the Bitcoin Security Consortium to support the long-term security of the Bitcoin network. The consortium's founding members include Strategy, BlackRock, Coinbase, Galaxy, Fidelity Digital Assets, Anchorage Digital, ARK Invest, Block, and Blockstream. They have collectively pledged $15 million over three years to fund developers working on security and post-quantum cryptography.

The initiative's first focus is post-quantum cryptography, as the risk from quantum computers may be years away but preparing for it is a key priority for the community. Strategy CEO Phong Le stated that 'As long-term holders, we have every incentive to see Bitcoin remain secure for generations. Funding the people who do this work, and helping inform the conversation around it, is a natural way for us to contribute.'

The consortium will publish information about Bitcoin's security, support and fund the network's developer community, and help spread awareness about the Bitcoin network. However, according to Strategy's statement, the consortium will not participate in developing or governing the Bitcoin protocol.