A total of nine companies have formed a consortium pledging a combined total of $15 million over three years to support Bitcoin. security research and open source development.
The companies in the newly formed Bitcoin Security Consortium include major crypto market participants, including BlackRock, Coinbase, Strategy, Anchorage Digital, ARK Invest, Block, Blockstream, Fidelity Digital Assets, and Galaxy.
The group will focus in part on preparing Bitcoin for advances in quantum computing and will publish material tracking the status of Bitcoin security work for investors and the public.
The $15 million will not be retained or allocated by the consortium, but members will choose which developers, researchers or organizations it funds. The group said it will not direct Bitcoin development or take positions on proposed protocol changes.
“Bitcoin Core developers do incredibly important work,” said BlackRock head of digital assets Robert Mitchnick, adding that the group would make additional funds available for the long-term security of Bitcoin.
The announcement did not reveal individual contributions, initial recipients or how much of the funding represents new commitments.
