Bitcoin firms launch US$15M quantum defence fund

• Several Bitcoin companies have pledged US$15 million to help protect the network from future quantum computing threats.
• The initiative will support research into cryptographic upgrades and quantum-resistant security.
• The group said the funding aims to strengthen Bitcoin's long-term resilience as quantum technology advances.

A group of Bitcoin companies has committed US$15 million to fund research into protecting the Bitcoin (CRYPTO:BTC) network from future quantum computing threats.

The initiative will support the development of quantum-resistant cryptography and other technologies designed to strengthen Bitcoin's long-term security.

Supporters of the initiative said quantum computing could eventually weaken the cryptographic methods that protect digital assets if the technology advances significantly.

The funding will back research, software development and collaboration within the Bitcoin community to prepare for potential future risks.

Most experts believe practical quantum computers capable of threatening Bitcoin remain years away, but many researchers argue that planning should begin well before the technology matures.

The initiative reflects growing efforts across the cryptocurrency industry to improve long-term security as new computing technologies continue to evolve.

At the time of reporting, Bitcoin price was $65,507.97.