PANews reported on February 4th, citing Cryptobriefing, that Galaxy Digital CEO Mike Novogratz stated during the earnings call that the biggest risk facing Bitcoin is internal governance issues, not quantum computing. He believes quantum computing is more of a market hype narrative and expects Bitcoin to upgrade to quantum-resistant technology in due course. Novogratz pointed out that the real long-term threat to Bitcoin lies in potential persistent disagreements among developers or a failure to reach consensus on upgrades, but he believes this is unlikely, as Bitcoin is capable of handling these issues.

Regarding the recent market decline, Novogratz believes the selling pressure primarily stemmed from the distribution of tokens by long-term holders, rather than a collapse in market confidence. While acknowledging the possibility of further downside, he intuitively feels the market is closer to a cyclical bottom than the start of another prolonged crypto winter. He mentioned that legislation on the US crypto market regulatory framework could be a catalyst for attracting new demand through Wall Street channels, and pointed out that Bitcoin's role as a macro asset supported by both retail and institutional investors has been solidified.