Galaxy Digital launches Bitcoin Quantum Readiness Initiative

Galaxy Digital has launched the Bitcoin Quantum Readiness Initiative to address the threat quantum computing poses to Bitcoin, Decrypt reported. The company plans to use up to $5 million to support development of post-quantum cryptography and to run a research program and an expert advisory board. Galaxy emphasized ecosystem-wide cooperation is needed to prepare for a so-called "Q-Day," when quantum computers could neutralize Bitcoin’s elliptic curve cryptography. Separately, quantum-resilience specialist Project Eleven said in May that a cryptographically significant quantum computer could be developed as early as 2030 and estimated about 6.9 million BTC are held in addresses vulnerable to quantum computers.