Strategy Announces Security Measures Against Quantum Threats for Bitcoin

Strategy has announced that the Bitcoin network may adopt new security measures against threats posed by quantum computers. The company stated that in a time when discussions about the long-term resilience of Bitcoin are increasing, the network could implement quantum-resistant upgrades if necessary. The security of Bitcoin transactions relies on elliptic curve cryptography, and the possibility of a sufficiently powerful quantum computer generating private keys is being debated. However, there is no verified example that current quantum computers can break Bitcoin's cryptography. Michael Saylor, co-founder of Strategy, expressed that the Bitcoin community could develop defenses by updating the software if the quantum threat arises. Saylor predicted that the transition to quantum-resistant cryptography could be completed in about 90 days. However, this timeline has sparked discussions as it requires developers to reach consensus on technical adjustments and for users to move their assets to new addresses. Strategy has participated in research and development efforts for the long-term security of Bitcoin and has joined the Bitcoin Security Consortium. The consortium has allocated a total of $15 million over three years. Bitcoin developers are also continuing their search for solutions to quantum risks, and the BIP 360 proposal stands out as one of the options being considered to ensure the future security needs of the Bitcoin network.