Catenaa, Thursday, June 26, 2025- Project 11, a startup focused on defending Bitcoin against the future threat of quantum computing, announced a $6 million seed funding round Thursday.
The investment, co-led by Variant and Quantonation, also included Castle Island Ventures, Nebular, and Formation.
Quantum computing, an emerging technology harnessing quantum physics to process vast amounts of data, could potentially break Bitcoin’s cryptographic security once fully developed.
Project 11 warned that all Bitcoin wallets, accounts, and smart contract keys must upgrade to quantum-resistant cryptography to prevent vulnerabilities.
The firm stressed that a “cryptographically relevant quantum computer” would undermine the foundational security of Bitcoin and nearly all digital assets.
With rapid progress from tech giants like IBM and Google, the threat is accelerating and preparation time is limited.
Currently, Bitcoin remains the world’s most secure network and has never been hacked. Breaking its cryptography would require controlling more than half of the network’s computing power, an immense technical barrier.
Some Bitcoin advocates, including MicroStrategy founder Michael Saylor, downplay the risk. Saylor noted that large quantum computers capable of cracking cryptography would also threaten major financial institutions and governments, making their deployment unlikely.
Bitcoin’s price hovered near $104,250 Thursday, remaining steady amid ongoing discussions about quantum computing’s future impact on blockchain security.
