BlackRock, Coinbase, Strategy and Peers Launch Bitcoin Security Consortium with $15 Million Pledge

Leading financial institutions and Bitcoin companies including BlackRock, Coinbase, Strategy, Fidelity Digital Assets, Galaxy Digital, ARK Invest, Blockstream, Anchorage Digital, and Block announced the Bitcoin Security Consortium on July 23, 2026. Members have pledged $15 million over the next three years to support the long-term security of the Bitcoin network through independent funding of open-source work.

Priority on Quantum Computing Risks

The consortium’s first focus is quantum computing. Large-scale quantum computers capable of threatening Bitcoin’s cryptography do not exist today, and credible estimates place them years away. Preparing is a meaningful long-term priority, and one the community is already working on. The group will provide updates about Bitcoin’s security, including the long-term question of quantum, aiming to supply information that reflects the actual state of the work to investors, the public, and the media.

Day-to-day coordination is handled by Mike Schmidt, Executive Director of Brink, a non-profit that supports Bitcoin open-source developers. Schmidt serves as a volunteer independent of any member organization. The structure ensures the consortium supports the people who build Bitcoin without directing its development or speaking for the protocol.

Bitcoin Core developers and the broader open-source community have maintained network resilience through independent effort. The consortium seeks to strengthen visibility of that work among institutional stakeholders while leaving technical direction with the decentralized contributor base.

Independent Funding and Support Model

The Bitcoin Security Consortium has two primary goals: fund and support the developers and researchers already securing Bitcoin, and inform the broader conversation about Bitcoin’s security so it reflects the actual state of the work. On the $15 million in pledges, each member funds independently, choosing the developers, researchers, and organizations it supports. The Consortium does not pool capital or direct where funding goes.

Founding members comprise holders, custodians, exchanges, asset managers, and builders:

Anchorage Digital

ARK Invest

BlackRock

Block

Blockstream

Coinbase

Fidelity Digital Assets

Galaxy Digital

Strategy

Phong Le, Chief Executive Officer of Strategy, stated: “As long-term holders, we have every incentive to see Bitcoin remain secure for generations. Funding the people who do this work, and helping inform the conversation around it, is a natural way for us to contribute.” Robert Mitchnick, Global Head of Digital Assets at BlackRock, noted: “Bitcoin Core developers do incredibly important work, and we’re pleased that our firm and the others in this group will now be making significant additional funding available to support Bitcoin’s long-term security needs.”

The consortium is modeled on industry groups that have supported open-source software they depend on, contributing resources and awareness without controlling the work. Bitcoin has proven resilient through the efforts of a global, independent community. The members aim to help strengthen that foundation for the long term while preserving the decentralized character of protocol development.

Bottom Line

The Bitcoin Security Consortium channels independent institutional funding to open-source security research while leaving protocol control with the developer community.

Find out more here.

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Further articles, reports, and the latest quantum computing news may be found at The Qubit Report.