Galaxy Digital Inc. (NASDAQ: GLXY) CEO Mike Novogratz on Tuesday called quantum uncertainty a “big excuse” for Bitcoin (CRYPTO: BTC) whales and long-term holders selling off their positions, even though he downplayed its long-term industry impact.
Quantum Computing Fears: Overblown Or Justified?
During the company’s fourth-quarter earnings call, Novogratz argued that concerns about quantum computing’s impact on Bitcoin have been exaggerated.
“Quantum has been the big excuse for people,” the cryptocurrency billionaire said. “I think in the long run, quantum will not be a huge issue for crypto. It will be a big issue for the world, but Bitcoin, especially, will be able to handle it.”
Novogratz said he has been reassured by the “smart guys” that as the era of quantum computing approaches, Bitcoin’s core developers will likely adapt the code to be quantum-resistant.
He also dismissed the risk of developers fighting among themselves over protocol …Full story available on Benzinga.com
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