Nine Bitcoin firms launch a $15M consortium to fund quantum-safe security research and support open-source developers.
BlackRock, Coinbase, Fidelity Digital Assets and Strategy joined seven other firms this week. Together they launched the Bitcoin Security Consortium on July 23.
Nine founding members pledged $15 million over the next three years.
The money will fund open-source developers working on Bitcoin’s core security. Brink Executive Director Mike Schmidt will coordinate daily operations in a volunteer role.
Bitcoin Security Consortium brings together major institutional players
According to a press release, the founding members span custodians, exchanges, asset managers and infrastructure providers. Anchorage Digital, ARK Invest, Block, Blockstream and Galaxy round out the group.
Each firm holds direct exposure to Bitcoin through custody, trading or treasury operations. That shared exposure drives the group’s interest in long-term network security.
Members will direct their pledged funds independently rather than pooling resources. No single organization will control how the money reaches developers or researchers.
The Consortium also will not direct Bitcoin’s protocol or take positions on proposed changes. Strategy CEO Phong Le said long-term holders have a natural incentive to fund this work.
BlackRock’s Robert Mitchnick praised Bitcoin Core developers for their contributions to the network.
He said the added funding will support security needs the group already works on daily. The structure mirrors how other industries have historically backed open-source software projects.
Bitcoin’s security is a shared responsibility.
Today we are launching the Bitcoin Security Consortium, backed by $15 million in commitments to support the developers and researchers strengthening Bitcoin for the decades ahead. https://t.co/J2VbkgJRZm
— Michael Saylor (@saylor) July 23, 2026
Post-quantum cryptography tops the group’s early research priorities
Quantum computers capable of breaking Bitcoin’s current cryptography do not exist yet. Credible estimates place that capability years into the future, according to the group.
Even so, the Consortium named post-quantum protection a central focus from day one. Bitcoin’s technical community has already been researching quantum-resistant upgrades independently.
Blockstream, one of the founding members, has worked on quantum-resistant infrastructure through its Liquid Network. That network currently secures more than $8.5 billion in settled value.
The Consortium aims to support similar work happening across the wider developer ecosystem.
The group plans to publish updates on quantum research as the field progresses. Those updates are meant to give investors and the public a grounded reference point.
Read also: Galaxy Launches $5M Bitcoin Quantum Defense Initiative
Industry reaction spreads quickly across social media
Strategy announced the launch on X, tagging the new @BTCconsortium account directly. The post confirmed the $15 million pledge and named the founding member list.
Coinbase followed with its own post calling out the partnership with BlackRock and Fidelity. Coinbase’s message framed the initiative around quantum readiness for the broader crypto industry.
Michael Saylor also posted about the launch, calling Bitcoin’s security a shared responsibility. He said the Consortium exists to strengthen the network for the decades ahead.
The Consortium says it will keep publishing material on Bitcoin’s security going forward. Further updates are expected as member-funded research projects develop over time.
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