Yeliz Akmaca 
Speculation surrounding a $9 billion Bitcoin sale that rippled through the crypto market has drawn a direct response from Galaxy Digital. The company said the transaction, executed on behalf of a wealthy client, was not related to quantum computing risks.
Galaxy Digital’s Head of Research Alex Thorn stated in a Tuesday post on X that the sale was not driven by concerns over Bitcoin’s quantum resistance. His comments came amid rising uncertainty following the firm’s weak financial results.
Bitcoin briefly dipped below $74,000 the same day, bringing renewed attention to selling pressure across the market.
Earnings Aftermath Fueled Speculation
It all began with Galaxy Digital releasing its fourth-quarter results. The company reported a net loss of $482 million for Q4 and a full-year loss of $241 million for 2025, already shaking investor confidence. When news emerged that a wealthy client had sold roughly $9 billion worth of BTC, quantum-related narratives quickly spread across crypto circles.
Some social media posts claimed the client had “serious concerns about Bitcoin’s quantum resistance.” Thorn firmly rejected that interpretation.
Quantum Debate Back in Focus
The idea that quantum computers could one day threaten cryptographic systems isn’t new. But in recent months, the topic has started influencing portfolio decisions.
In January, Jefferies’ “Greed & Fear” strategist Christopher Wood removed his 10% Bitcoin allocation recommendation, citing advances in quantum computing.
Blockstream CEO Adam Back has pushed back on those fears, arguing that quantum computers would need at least 20 to 40 years to pose a real threat to Bitcoin.
Meanwhile, some Bitcoin advocates and crypto fund managers are already exploring preventative measures. One proposal gaining attention is BIP-360, which aims to introduce post-quantum signature options for Bitcoin addresses that could become vulnerable in the future.
Novogratz: A Bottom May Be Near
Galaxy CEO Mike Novogratz told Bloomberg that the market could be approaching a bottom.
“I think we’re getting close to the bottom, but you only really know a bottom after you see it,” he said.
According to Novogratz, progress on the US crypto market structure bill could help accelerate a recovery. Known as the CLARITY Act, the legislation seeks to clarify jurisdictional boundaries between the SEC and CFTC and establish the first comprehensive crypto framework in the United States.
Still, the process remains uneven.
In January, the Senate Banking Committee postponed markup discussions due to concerns over tokenized equities, DeFi provisions, and stablecoin yield models. Despite that, officials from President Donald Trump’s administration met with crypto and banking representatives on Monday to discuss how stablecoin yields might be addressed in the pending bill.
The Sale Was Not Just a Quantum Story
Galaxy maintains that the $9 billion Bitcoin sale was not motivated by quantum fears. Instead, the broader picture reflects weak earnings, tight liquidity, and ongoing regulatory uncertainty.
For now, quantum concerns remain in the background. The dominant drivers are familiar ones: risk appetite, macro pressure, and signals coming out of Washington.
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