- Galaxy launched a $5 million Bitcoin Quantum Readiness Initiative to strengthen Bitcoin against future quantum threats.
- The program funds post-quantum research, wallet migration tools, security audits, and developer grants.
- Galaxy formed a Quantum Advisory Council to advance research and prepare Bitcoin for future cryptographic challenges.
Galaxy has launched the Bitcoin Quantum Readiness Initiative, committing up to $5 million to help developers prepare Bitcoin for future quantum computing risks. The program introduces developer grants, a research effort, and a Quantum Advisory Council as the company seeks to strengthen Bitcoin’s cryptographic security before quantum computers become capable of threatening current encryption methods.
Initiative Targets Future Cryptography Risks
According to Galaxy, Bitcoin currently relies on elliptic curve cryptography, which sufficiently powerful quantum computers could eventually break. Although such machines do not exist today, the company said preparation must begin early because Bitcoin protocol upgrades require years of coordination.
Mike Novogratz, Galaxy’s founder and chief executive officer, said the initiative reflects the firm’s commitment to supporting research and development that strengthens Bitcoin’s long-term security.
The company also noted that the National Institute of Standards and Technology finalized its first post-quantum cryptography standards in 2024. Meanwhile, a recent executive order established a 2031 deadline for federal agencies to strengthen defenses against quantum attacks.
Grants And Research Form Core Program
Galaxy structured the initiative around three areas. First, it will provide up to $5 million in grants supporting post-quantum signature schemes, wallet migration tools, implementation reviews, and security audits.
Second, Galaxy Research will publish ongoing analysis covering quantum computing risks and Bitcoin’s preparedness. According to Alex Thorn, Galaxy’s Head of Firmwide Research, the goal is to help investors, policymakers, and developers better understand emerging challenges.
Third, Galaxy created a Quantum Advisory Council. The inaugural members include Barry Sanders of the University of Calgary, Damien Bérubé, and Eran Tromer of Boston University.
Industry Collaboration Takes Priority
According to Galaxy, CryptoQuant research estimates that about 6.9 million Bitcoin could become vulnerable if quantum computers eventually defeat existing cryptographic protections. At current prices, those holdings would total roughly $461 billion.
The company said developers have only begun addressing post-quantum migration despite the complexity involved. Consequently, Galaxy invited universities, companies, institutions, and Bitcoin stakeholders to contribute research and funding alongside its initiative.
Barry Sanders said governments and industries continue preparing for quantum computing advances. He added that Bitcoin should also prepare through coordinated research and technical development.
