Leading financial institutions and Bitcoin companies have pledged $15 million over three years to strengthen Bitcoin’s open-source security, support developers, and advance post-quantum preparedness while preserving decentralised governance.
Leading financial institutions and Bitcoin companies have formed the Bitcoin Security Consortium to strengthen Bitcoin’s open-source security ecosystem, backed by $15 million in member pledges over the next three years. The funding will support Bitcoin developers, security researchers and organisations working to improve the network’s long-term resilience.
Founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy and Strategy, representing asset managers, custodians, exchanges, infrastructure providers, payments providers and Bitcoin holders.
The consortium will fund Bitcoin security research, support open-source developers, advance long-term protocol security and help prepare Bitcoin for future post-quantum cryptographic challenges. Each member will independently decide which developers, researchers and organisations receive funding.
Coordinated by Mike Schmidt, Executive Director of Brink, in a volunteer capacity, the initiative is modelled on how industries support critical open-source software without controlling its development. It will not develop Bitcoin Core, influence protocol decisions or represent Bitcoin developers, maintaining Bitcoin’s decentralised open-source governance.
The consortium also plans to publish educational resources and updates on Bitcoin security for investors, the media and the public. While quantum computers capable of breaking Bitcoin’s cryptography do not yet exist, the group says preparing post-quantum protections is an important long-term priority.
“As long-term holders, we have every incentive to see Bitcoin remain secure for generations. Funding the people who do this work, and helping inform the conversation around it, is a natural way for us to contribute,” said Phong Le, Chief Executive Officer of Strategy.
“Bitcoin Core developers do incredibly important work, and we’re pleased that our firm and the others in this group will now be making significant additional funding available to support Bitcoin’s long-term security needs,” said Robert Mitchnick, Global Head of Digital Assets at BlackRock.
