Galaxy Digital launched a Bitcoin Quantum Readiness Initiative to help prepare the Bitcoin network for the potential threat posed by powerful quantum computers.
Galaxy Digital launched a Bitcoin Quantum Readiness Initiative to help prepare the Bitcoin network for the potential threat posed by powerful quantum computers.a Bitcoin Quantum Readiness Initiative today, a program that commits up to $5 million in developer grants, a research effort, and a new advisory council to harden the network against the arrival of powerful quantum computers.
The Nasdaq-listed firm framed the multi-pillar effort as an attempt to close a gap between two worlds moving at different speeds.
“There’s a gap between the quantum computing world, which is moving fast, and the Bitcoin development world, which is just beginning to engage with post-quantum cryptography in earnest,” said Alex Thorn, head of firmwide research at Galaxy, whose team hasBitcoin’s security rests on elliptic curve cryptography, a scheme that a machine running Shor’s algorithm could break by deriving a private key from an exposed public key. An attacker with such a tool could forge a signature and drain a wallet, with nothing on-chain to flag the theft.
No such computer exists today, yet the estimated timeline for one keeps compressing, a trend the Bitcoin Policy InstituteThe grant program forms the first pillar. Galaxy said it would fund work on quantum-resistant transaction proposals, the integration of post-quantum signature schemes, tooling for wallet and custodian migration, and formal security audits of proposed code.
Grants will be judged one at a time and paid on a milestone basis, and the firm expects to open applications without delay through the address A research and publishing arm forms the second pillar, with Galaxy Research set to publish analysis of the threat and the developer response for investors, policymakers, and the technical community. The third pillar is a Quantum Advisory Council that will guide the research and weigh grant proposals.
Its first members are Barry Sanders, professor and scientific director of Quantum City at the University of Calgary; Damien Bérubé, an MIT Sea Grant Knauss Fellow; and Eran Tromer, a professor of computer science at Boston University.
“As leaders in the digital assets space, we believe it’s important that we help be part of the solution to any potential threat quantum computing poses to Bitcoin,” said Mike Novogratz, founder and CEO of Galaxy, a figure known foron bitcoin. Sanders said quantum timelines “continue to compress” and that bitcoin should be no exception to the preparation underway across governments and industries. Old and reused addresses face the sharpest risk, since their public keys sit exposed on the ledger.
An estimated 1.7 million BTC rest in legacy pay-to-public-key addresses, a stash with keys on permanent display. Bitcoin’s decentralized governance turns such changes into a slow process of design, review, testing, and deployment that can span years. Some observers cast that structure as the true obstacle, asigned executive orders that advance U.S. quantum work and set a 2031 federal deadline for post-quantum defense. NIST finalized its first post-quantum standards in 2024.
Galaxy said it welcomes co-funders and other stakeholders, and acknowledged that peers may pledge their own funds toward the same goal. The firm cast that prospect as a benefit rather than a rivalry, with an open invitation to institutions and developers who want to join. Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long.
Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
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