Galaxy Digital has established a $5 million initiative to fund efforts protecting Bitcoin from potential future quantum computing threats. The program will award grants for quantum-resistant signature schemes, wallet migration tools, and security audits. Applications are now open as the firm seeks additional industry support.
Galaxy Digital announced the Bitcoin Quantum Readiness Initiative to address long-term risks to the cryptocurrency's cryptography. The company said it will begin accepting grant applications immediately, with a focus on developing tools to migrate the network to post-quantum standards.
Researchers have identified approximately 6.9 million Bitcoin, valued at roughly $461 billion, that could become vulnerable if quantum computers advance sufficiently. Experts note that while the threat is not immediate, protocol upgrades could require years of coordination among developers, wallets, exchanges, and users.
The move comes amid broader government actions, including recent U.S. executive orders on quantum computing and more than $2 billion in awards to related companies. Galaxy Digital said it hopes other firms will contribute funding to accelerate adoption of new cryptographic standards.
