PANews February 4 News, according to Cryptobriefing, Galaxy Digital CEO Mike Novogratz stated during the earnings call that the biggest risk currently facing Bitcoin is governance issues rather than quantum computing. He believes quantum computing is more of a market hype narrative and expects Bitcoin to be upgraded in time to incorporate quantum-resistant technology. Novogratz pointed out that the real long-term threat to Bitcoin lies in potential persistent disagreements among developers or an inability to reach consensus on upgrades, but he considers such scenarios unlikely, as Bitcoin has the capacity to address these issues.
Regarding recent market declines, Novogratz believes the selling pressure mainly comes from long-term holders’ distribution, rather than a collapse in market confidence. While acknowledging the possibility of further downside, he intuitively feels the market is closer to a cycle bottom rather than the start of another prolonged crypto winter. He mentioned that legislation on the US crypto market regulatory framework could serve as a catalyst to attract new demand through Wall Street channels, and noted that Bitcoin’s role as a macro asset supported by both retail and institutional investors has been solidified.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Smart Trader Starts Shorting Ethereum and Bitcoin After Generating $34M Profit
Trader 58bro.eth has shifted to shorting Bitcoin and Ethereum after earning $34M with a 91% win rate. The move reflects a bearish outlook amidst market volatility, with current positions totaling over $25M in crypto assets.
BlockChainReporter33m ago
$1B Bitcoin Bet: Strategy Adds 13,927 BTC Amid Market Uncertainty
_Strategy adds 13,927 BTC for $1B, reinforcing long-term accumulation strategy_
_Total holdings reach 780,897 BTC with average acquisition price near $75,577_
_Firm posts 5.6% YTD Bitcoin yield while maintaining steady buying pace_
Strategy expanded its Bitcoin holdings with a $1 billion p
LiveBTCNews1h ago
Quantum-Safe Bitcoin Proposal Claims Protection Without a Network Fork
The article discusses a proposal for "Quantum-Safe Bitcoin," which allows users to secure transactions against potential quantum attacks without altering Bitcoin's core protocol. The design fits within existing scripting rules, enabling security-conscious individuals to act independently without necessitating network-wide consensus or political disputes over upgrades.
CryptoNewsFlash2h ago
Morgan Stanley’s BTC ETF Debuts With $62M Inflows & Rate Cut
Morgan Stanley launched its spot Bitcoin ETF, MSBT, on NYSE Arca, achieving strong trading volumes and low fees. This marks a significant step for traditional finance in crypto exposure, leveraging the bank's vast wealth management network despite market volatility.
DailyCoin2h ago
