Galaxy Digital said a $9 billion bitcoin sale executed for a client was not motivated by concerns over quantum computing risks, pushing back against market speculation.
The clarification followed Galaxy’s earnings call, after which some crypto traders suggested the client had sold bitcoin due to worries about the asset’s long-term resistance to quantum advances.
Alex Thorn, Galaxy’s head of research, said on X that the transaction had nothing to do with quantum computing, despite commentary that the client was “fairly concerned about BTC quantum resistance.”
The speculation emerged as Galaxy reported a net loss of $482 million in the fourth quarter of 2025 and a $241 million loss for the full year, coinciding with heightened market volatility.
Concerns about quantum computing have periodically resurfaced in crypto markets, with some investors and strategists questioning whether future breakthroughs could threaten Bitcoin’s cryptography.
Adam Back has previously dismissed such fears, arguing that quantum computers capable of breaking Bitcoin security are likely decades away.
Galaxy chief executive Mike Novogratz said separately that bitcoin’s recent pullback may be approaching a bottom, adding that progress on the US CLARITY Act could help support a market recovery.
At the time of reporting, Bitcoin price was $70,621.70.