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TechBlackRock, Strategy and Coinbase Back $15M Bitcoin Security Consortium
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BlackRock, Strategy (MicroStrategy), and Coinbase have joined forces with Anchorage Digital, ARK Invest, Block, Blockstream, Fidelity Digital Assets, and Galaxy to launch the Bitcoin Security Consortium, a $15 million initiative focused on Bitcoin's long-term security. The consortium will fund developers, researchers, and organizations working on Bitcoin's security over three years, with each member independently deciding where its capital goes rather than using a central grant committee. The first priority is post-quantum cryptography research, as large-scale quantum computers capable of breaking Bitcoin's cryptography are not yet a reality but pose a future risk. The group will not direct Bitcoin's protocol or endorse specific upgrades but aims to support existing work and provide public information on security progress. Brink Executive Director Mike Schmidt will coordinate the consortium voluntarily. The initiative reflects growing institutional concern about quantum computing threats to cryptocurrency networks.
Source report
Source: CryptoProwl Read Time: 2 min
BlackRock (NYSE: $BLK), Strategy (NASDAQ: $MSTR), and Coinbase (NASDAQ: $COIN) are committing $15 million to a Bitcoin security consortium, as the network's quantum-computing debate moves further into institutional planning.
The three companies have joined Anchorage Digital, ARK Invest, Block (NYSE: $XYZ), Blockstream, Fidelity Digital Assets, and Galaxy (NASDAQ: $GLXY) as founding members of the Bitcoin Security Consortium. The group will direct funding to developers, researchers, and organizations focused on Bitcoin's long-term security over the next three years.
Each member will independently decide where its capital is allocated, rather than placing funds under a central grant committee. Brink Executive Director Mike Schmidt will coordinate the consortium's work in a volunteer capacity.
First Focus: Post-Quantum Cryptography
The consortium's initial area of focus is post-quantum cryptography. Large-scale quantum computers capable of breaking Bitcoin's cryptography do not currently exist, and credible estimates place that capability years away. The more challenging question is how much time a decentralized network may need to research, test, and coordinate protections before the risk becomes practical.
Industry Perspectives
Phong Le, CEO of Strategy, stated that long-term holders have "every incentive to see Bitcoin remain secure for generations," framing developer funding and improved public information as a natural contribution from firms with direct exposure to the asset.
Robert Mitchnick, Global Head of Digital Assets at BlackRock, noted that Bitcoin Core developers perform critical work and that the consortium will make additional funding available for the network's long-term security needs.
Scope and Limitations
The group will not direct Bitcoin's protocol, endorse specific upgrades, or speak for developers. Its role is narrower: to support work already underway and publish materials that give investors and the public a clearer view of Bitcoin's security progress.
This distinction carries weight as institutional ownership grows. The companies backing quantum preparation include major holders, custodians, exchanges, and asset managers, while Bitcoin's technical direction remains with its open-source community.
The consortium turns a long-dated cryptographic concern into a funded infrastructure project without treating quantum computing as an immediate market threat.
Market Data
Bitcoin (CRYPTO: BTC) is currently trading at $65,008 U.S. per token.
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BlackRock, Strategy and Coinbase Back $15M Bitcoin Security Consortium