Strategy, BlackRock, Coinbase and six other companies have formed the Bitcoin Security Consortium, a new group intended to fund work on Bitcoin's long-term security.

The nine founding firms pledged a combined $15 million over three years to support developers, researchers and organizations working on Bitcoin security around the world. Post-quantum cryptography is the consortium's first stated priority, although the group noted that no quantum system capable of mounting such an attack exists today.

The other founding members are Anchorage Digital, ARK Invest, Block, Blockstream, Fidelity Digital Assets and Galaxy. Brink Executive Director Mike Schmidt will coordinate the consortium's day-to-day work as a volunteer. Each participating company will decide independently where to direct its own funding, rather than contributing to a single shared pool.

JUST IN: 🔒 BlackRock, Coinbase, and Strategy are among firms pledging $15M to harden Bitcoin's infrastructure against quantum computing threats. — Watcher.News (@watchernewsx) July 23, 2026 https://x.com/watchernewsx/status/2080279362251718762?ref_src=twsrc%5Etfw

Consortium focuses on Bitcoin's long-term security

The consortium identified post-quantum cryptography as its initial area of focus. The field develops cryptographic methods designed to withstand attacks from both classical computers and quantum computers. Bitcoin currently uses elliptic curve cryptography to prove ownership of funds and authorize transactions. The broader technology sector has been moving in the same direction: NIST published its first finalized post-quantum cryptographic standards in 2024 following a multi-year selection process, providing reference algorithms that critical systems worldwide — from banking to government communications — will eventually need to adopt.

Large-scale quantum computers cannot break Bitcoin's cryptography at present. However, a sufficiently powerful machine running Shor's algorithm could derive a private key from an exposed public key, potentially allowing an attacker to attempt to move funds from a vulnerable address. Researchers continue to disagree on when, or whether, such a machine could become available.

"As long-term holders, we have every incentive to see Bitcoin remain secure for generations," said Strategy CEO Phong Le.

BlackRock global head of digital assets Robert Mitchnick also said the member firms will make more funding available for Bitcoin Core developers and long-term security work. Bitcoin Core development has historically depended on a relatively small number of contributors funded through organizations such as Brink, Chaincode Labs, Spiral and OpenSats, making coordinated institutional support a notable expansion of that base. Strategy announced the consortium in an official statement:

Members say they will not direct Bitcoin development

The group said it will not develop or direct Bitcoin's protocol, endorse specific protocol changes, or speak on behalf of Bitcoin developers. The open-source community will continue to debate, test and approve any changes through Bitcoin's existing development process.

That limitation is notable because the consortium includes several large companies with direct ties to Bitcoin. BlackRock and Fidelity offer institutional Bitcoin products, while Coinbase and Anchorage Digital provide trading and custody services. Strategy holds Bitcoin as its primary treasury asset. Blockstream and Block develop Bitcoin infrastructure and payment products. Several of these firms would bear direct reputational and operational consequences if Bitcoin's cryptographic foundations were ever compromised.

Members will choose developers, researchers and nonprofit groups independently. The consortium also plans to publish educational material about Bitcoin security for investors, the public and the media. It said those updates will track technical developments rather than set policy for the network.

Separate quantum-readiness efforts expand

The consortium was announced two days after Galaxy launched its separate Bitcoin Quantum Readiness Initiative. Galaxy committed up to $5 million in grants for post-quantum tools, wallet migration systems, signature research and security audits. It also formed an advisory council and research program.

Galaxy said no cryptographically relevant quantum computer exists today. At the same time, it warned that Bitcoin upgrades could require years of design, testing and adoption because the network relies on decentralized governance. Galaxy is also a founding member of the Bitcoin Security Consortium, but its separate grant program has its own review process.

As crypto.news previously reported, Coinbase's independent advisory board urged Bitcoin developers to begin planning for a quantum migration now. The board did not endorse a fixed policy for old or vulnerable coins, but called for technical preparation before the threat becomes practical.

Crypto companies have also begun testing new tools. BitGo and Silence Laboratories completed a simulation using a post-quantum signing system in an institutional custody workflow. Developers are also discussing BIP-360, a proposal that would add a new Bitcoin output type intended to reduce future quantum exposure.

Estimates vary on exposed Bitcoin

Project Eleven's Bitcoin Risq List estimated that 6,982,462 BTC was held in addresses with exposed public keys as of June 15. The figure includes coins affected by older address types and by address reuse. The tracker does not claim that current hardware can steal those coins.

Other studies use narrower definitions. Glassnode estimated in May that 1.92 million BTC faced structural exposure because their output types reveal public keys by design. It placed another 4.12 million BTC in an operational exposure category linked to address reuse and wallet practices.

Project Eleven's 2026 quantum threat report placed its baseline estimate for "Q-Day," the point at which a quantum computer could break current public-key cryptography, in 2033. Its early scenario put the date in 2030, while its later case extended the estimate to 2042. The report said those estimates remain uncertain and depend on advances in hardware, error correction and algorithms.

The U.S. government has also accelerated planning for post-quantum security. A June executive order directed federal agencies to move high-value systems to post-quantum key establishment by the end of 2030 and post-quantum digital signatures by the end of 2031.

The Bitcoin Security Consortium said it will publish further material and continue funding security work. It did not identify grant recipients, list individual company contribution amounts or propose a deadline for any Bitcoin protocol upgrade. The consortium's near-term impact will be measurable through grant disbursements, educational outputs and whether funded research advances into formal Bitcoin Improvement Proposals.