The Bitcoin quantum threat is drawing fresh attention as Galaxy Digital pledged millions to build quantum-resistant protections.
Galaxy Digital is committing up to $5 million to developers working on quantum-resistant Bitcoin upgrades.
The company announced its Bitcoin Quantum Readiness Initiative in a Tuesday blog post, saying the program will also include dedicated research and a council of quantum-computing and cryptography experts. The firm wrote:
“Galaxy understands that others in the industry may also be pledging funds toward preparing Bitcoin for quantum computing, and wholeheartedly supports those efforts. The firm welcomes institutions and Bitcoin stakeholders interested in co-funding grants or contributing research, and developers working on post-quantum solutions for Bitcoin.”
So far, no cryptographically relevant quantum computer exists today, but a sufficiently powerful machine could theoretically break the elliptic-curve cryptography Bitcoin uses to verify ownership and authorize transactions.
And because changes to Bitcoin can take years to design, debate, test and adopt, Galaxy Digital argues that waiting until the threat is immediate may already be too late.
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Governments Aren’t Waiting Either
The initiative comes as governments and standards bodies begin preparing their own systems for the same risk.
The National Institute of Standards and Technology, a U.S. technology standards agency, finalized its first three post-quantum cryptography standards in August 2024 and has urged organizations to begin migrating away from vulnerable systems.
A June executive order from U.S. President Donald Trump also directed federal agencies to move certain high-value systems to post-quantum protection by 2030 or 2031, depending on their use.
Alongside the $5 million commitment, Galaxy Digital also formed a Quantum Advisory Council, an expert panel that will review grant proposals and help guide the firm’s research.
Its inaugural members are Barry Sanders, a quantum scientist at the University of Calgary, Eran Tromer, a computer science professor at Boston University, and Damien Bérubé, an MIT Sea Grant fellow.
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