Mike Novogratz, CEO of Galaxy Digital, stated that the greatest threat to Bitcoin is not quantum computing but internal governance issues. During a financial call, he dismissed quantum computing as a market myth and expressed confidence that Bitcoin will eventually upgrade to quantum-secure technology. Novogratz emphasized that the long-term risk lies in disagreements among Bitcoin developers or the lack of consensus on upgrades, though he believes Bitcoin is prepared to handle such challenges. He attributed the current market downturn to long-term holders reallocating assets rather than a loss of market confidence.
Furthermore, Novogratz suggested that U.S. regulatory legislation could serve as a catalyst for the crypto market by generating new demand through Wall Street. He highlighted that Bitcoin has now stabilized as a macro asset supported by both retail and institutional investors. As the largest and most recognized cryptocurrency, Bitcoin has secured a significant position in the financial system over recent years. While its price volatility and future technological challenges remain critical issues, experts believe the Bitcoin community and developers will actively address governance obstacles. Market analysts currently agree that the crypto market’s weakness is temporary and that Bitcoin’s value is more likely to stabilize than decline further, offering hopeful news for investors.
Source: binance
