Bitcoin Security Consortium Launched with $15M Pledge to Protect Against Quantum Threats

Nine major players in the Bitcoin space have joined forces to fund long-term security research for the network. Strategy, BlackRock, Coinbase, and six other firms have pledged $15 million over three years to strengthen Bitcoin's security.

The group's immediate focus is post-quantum cryptography, making Bitcoin's encryption resistant to future quantum computers. Estimates suggest that 'Q-Day,' when large-scale quantum computers capable of breaking modern encryption could arrive, is as early as 2030.

The consortium will not develop or govern Bitcoin's protocol but will fund work already underway and provide a clearer view of the network's security progress.