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More than $15 million in pledged capital, organized by a consortium of over a dozen firms led by Coinbase Global (NASDAQ: COIN) and Strategy (NASDAQ: MSTR), is now actively working to harden Bitcoin's ($BTC) cryptography against quantum computing attacks.
CNBC Mad Money host Jim Cramer sold his Bitcoin position citing the quantum threat. The industry's response, assembled in July, already has named firms and committed capital behind it.
The threat that moved Cramer Cramer's concern traces to research from Alphabet's (NASDAQ: GOOG, NASDAQ: GOOGL) quantum computing unit, which suggested quantum computers could crack Bitcoin's encryption and that as much as one-third of all Bitcoin in circulation might be at risk.
The timeline, per that research, is potentially years rather than decades.
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