Project 11, a startup focused on protecting Bitcoin from the threat of quantum computing, has just raised 6 million USD in a seed funding round, co-led by Variant and Quantonation. The project emphasizes the need to upgrade cryptography to counter the potential security breaches posed by quantum technology. This article details Project 11's plans, the context of quantum computing, its impact on the crypto market, and provides suggestions for investors.
Project 11's plan to protect Bitcoin
Project 11 announced it raised 6 million USD on June 19, 2025, with participation from venture capital funds such as Castle Island Ventures, Nebular, and Formation. The goal of the project is to develop quantum-safe cryptography to protect Bitcoin, the safest computing network in the world, from threats posed by quantum computing.
According to Project 11, a sufficiently powerful quantum computer could break the foundational security assumptions of Bitcoin, affecting every wallet, account, and smart contract key. The company warns: “With the rapid advancements from IBM and Google, that future is no longer a hypothesis. It is approaching.” The project emphasizes that all Bitcoin users need to upgrade to new cryptography to maintain security, a process that requires coordination across the entire network.
Although quantum computing has not yet been publicly launched, technology giants like Google and IBM are making progress in its development, causing some crypto experts to worry about the potential decryption of Bitcoin. Project 11 utilizes new funding to research and implement security solutions, ensuring Bitcoin remains a safe digital asset in the quantum era.
The context of quantum computing and Bitcoin security
Quantum computing uses the principles of quantum physics to process significantly larger amounts of information than classical computers, posing a potential threat to current cryptographic systems, including Bitcoin's SHA-256. However, this technology is still in the research stage, and no quantum computer is yet powerful enough to attack the Bitcoin network. To disrupt the network, an attacker would need to control over 50% of the computational power, requiring tremendous resources far beyond current capabilities.
Michael Saylor, co-founder of Strategy, dismisses quantum concerns, arguing that other networks like banks or military systems would face greater risks if this technology emerges. He argues that Google or Microsoft would not release a quantum decryption machine as it could undermine their own businesses. However, Project 11 maintains that proactive preparation is necessary, especially as the crypto market is experiencing strong growth with a capitalization of 2.2 trillion USD (CoinMarketCap).
#Bitcoin , with a market capitalization of 1.97 trillion USD, has never been hacked due to its proof-of-work consensus mechanism and decentralization. Crypto-friendly policies in the U.S., such as Trump's proposed strategic Bitcoin reserve and the GENIUS Act, further bolster Bitcoin's position. However, the emergence of quantum computing could change the game, requiring solutions like those from Project 11 to maintain trust.
Impact on the crypto market
The project of #Project11 may have significant impacts:
Enhancing Bitcoin Security: The development of quantum-safe cryptography helps reinforce trust in Bitcoin, particularly among institutional investors like BlackRock (Bitcoin ETF) and MicroStrategy (582,000 BTC).
Encouraging crypto security research: The success of Project 11 could promote similar projects for Ethereum, $SOL , or $ADA , protecting the entire ecosystem from quantum threats.
Attracting investment in blockchain technology: With 60% of Fortune 500 companies implementing blockchain (according to Coinbase), security solutions like those of Project 11 could attract capital into the crypto cybersecurity sector.
However, investors need to be aware of the risks. Quantum computing remains a hypothetical threat, and upgrading the entire Bitcoin network's cryptography requires complex consensus, which may cause temporary disruptions. Additionally, the legal uncertainty in the U.S., with the CLARITY Act unlikely to pass in 2025, may affect projects like Project 11.
Risk Warning: Investing in cryptocurrency carries high risks due to strong price volatility.
