BlackRock and Strategy Pledge $15M to Quantum-Proof the Bitcoin Network
A powerhouse consortium led by Strategy and BlackRock has pledged $15 million to safeguard the Bitcoin network against the looming threat of a quantum computing breakthrough. This strategic initiative aims to fortify Bitcoin's cryptographic foundations, ensuring the network remains resilient against future technological disruptions.
Featuring heavyweights such as Coinbase, Fidelity Digital Assets, and ARK Invest, the Bitcoin Security Consortium will direct funds toward open-source developers. By prioritizing long-term quantum security, these institutional leaders are proactively addressing systemic risks to maintain the integrity and dominance of the Bitcoin network in a post-quantum era.
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.
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