Galaxy sets up $5 million fund to help shield Bitcoin against quantum computing threats

Tech Galaxy sets up $5 million fund to help shield Bitcoin against quantum computing threats The crypto financial services firm is funding developers to strengthen the blockchain's security before quantum computers become powerful enough to steal billions in crypto. By Olivier Acuna | Edited by Sheldon Reback Jul 21, 2026, 4:16 p.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Quantum computing represents a potential threat to the Bitcoin and Ethereum networks, researchers said recently. (Vishal Bansal/Unsplash) Summary Show Galaxy Digital set up a $5 million Bitcoin Quantum Readiness Initiative to fund developers working on defenses against future quantum-computing threats. The program will support work on quantum-resistant signature schemes, wallet migration tools and security audits, and seeks additional backing from other firms to speed adoption of new cryptographic standards. Although experts say quantum computers cannot yet break Bitcoin, researchers warn that preparing upgrades could take years, with as much as 6.9 million bitcoin — worth about $461 billion at current prices — potentially at risk if the technology advances. Galaxy Digital (GLXY) said it set up a $5 million fund for Bitcoin developers working to protect the network from the potential future threat posed by quantum computing. The crypto financial services company said it will begin accepting applications for the Galaxy Bitcoin Quantum Readiness Initiative immediately, with grants focusing on developing quantum-resistant signature schemes, wallet migration tools and security audits. The company said it hopes other firms will contribute funding and research to accelerate the transition to quantum-resistant cryptography. Bitcoin secures wallets and transactions with cryptographic techniques that current computers cannot break in a meaningful timeframe. While quantum computing is still too immature to attack the blockchain, advances in the technology have accelerated efforts across government and industry to adopt quantum-resistant standards before the threat becomes a reality. In the event that quantum computers do become capable of breaking Bitcoin’s cryptography, roughly 6.9 million bitcoin BTC $ 66,616.47 could become vulnerable to theft, according to CryptoQuant research. At today’s price of about $66,800 , that comes to about $461 billion. While researchers agree the threat is not imminent, many argue preparations should begin now because agreeing on and deploying protocol upgrades could take years. Proposals to migrate Bitcoin to post-quantum cryptography are expected to be significantly more complex than previous upgrades such as Taproot, requiring coordination across developers, wallets, exchanges and users. President Donald Trump recently signed two executive orders directing the U.S. to build a large-scale quantum computer and to defend federal systems against one. The U.S. Commerce Department signed letters of intent to award more than $2 billion to nine quantum computing companies building machines capable of breaking the cryptography defending Bitcoin and Ethereum, and the cryptography that the internet runs on. 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