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Galaxy pledges up to $5 million for quantum-secure Bitcoin development

The grants are intended to support post-quantum cryptography work and Bitcoin wallet or custodian migration tooling, while a new advisory council will study quantum-resistant upgrade paths.

Reported · Written up by our desk · Market Structure

Galaxy Digital has pledged up to $5 million in grants for open-source developers working on post-quantum cryptography to help make Bitcoin’s cryptography more resistant to future quantum threats, according to Cointelegraph. The company also launched a Bitcoin Quantum Readiness Initiative and formed a quantum advisory council to research quantum-resistant migration solutions. Cointelegraph said the council includes Barry Sanders of the University of Calgary, Damien Bérubé from MIT Sea Grant, and Eran Tromer of Boston University.

Cointelegraph reported that the grants will fund quantum-resistant upgrade proposals, post-quantum cryptography, Bitcoin signature schemes, wallet and custodian migration tooling, and formal security audits. The push centers on concerns that quantum computers could eventually weaken Bitcoin’s current cryptographic assumptions.

Cointelegraph cited analytics provider Glassnode, saying about 30% of Bitcoin’s supply could be exposed if cryptographically relevant quantum computers emerge, including 10% considered structurally unsafe and 20% considered operationally unsafe due to key or address management practices. The outlet also noted that Blockstream CEO Adam Back previously said Bitcoin faces no meaningful quantum threat for at least the next 20 to 40 years, pointing to time to adopt post-quantum standards approved by NIST after NIST published post-quantum cryptography standards for key establishment and digital signatures in August 2024.

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