Could Bitcoin Be Frozen Arbitrarily? — Efforts to Prepare for the Quantum Threat

On July 23, nine companies—including BlackRock, Coinbase, Fidelity Digital Assets, and Strategy—announced the formation of the "Bitcoin Security Consortium," an initiative dedicated to supporting the long-term security of Bitcoin. These participating companies have pledged a combined $15 million over the next three years to support developers and researchers.

One of the key areas of focus is addressing the potential threat posed by quantum computing.

When hearing about "quantum countermeasures," one might naturally imagine efforts to strengthen cryptographic technology. However, "BIP-361"—the proposal outlining the transition plan—includes a measure that would render BTC immovable if the necessary updates are not implemented by a specific deadline.

This means that even if an owner holds the private key, their BTC could potentially be frozen.

Why are such drastic measures being considered for quantum defense? In this article, we explain the background behind the support provided by these nine major companies and the reasons why the freezing of Bitcoin assets is being contemplated.