Will Quantum Computing Kill Bitcoin? Novogratz Says No
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Will Quantum Computing Kill Bitcoin? Novogratz Says NoWill Quantum Computing Kill Bitcoin? Novogratz Doesn't Think So
Quantum computing fear can move markets fast, but the core question is whether it can break Bitcoin now or mainly pressure confidence while the network still has time to adapt. Mike Novogratz's latest comments support the second view: monitor the risk, but do not treat it as an immediate failure scenario.
On Feb. 3, 2026, Galaxy Digital CEO Mike Novogratz said quantum concerns had become an "excuse" in recent Bitcoin selling and argued the code can be upgraded before practical quantum attacks are viable.
In the same call, he said one client sold "$9 billion worth" of BTC, which he compared with about one-third of IBIT's prior-year inflows.
What Novogratz Actually Said About Bitcoin and Quantum Risk
What to Know
- Novogratz framed quantum risk as a long-run engineering challenge for Bitcoin, not an immediate network-ending event.
- The same call linked a major liquidation to a $9 billion client sale, not proof that quantum computers can currently break Bitcoin.
- Google Research's updated estimate says ECC-breaking capability could emerge with fewer than 500,000 physical qubits under specific assumptions, which is why migration planning matters now.
In practical terms, "kill Bitcoin" can mean distinct outcomes: breaking consensus, stealing funds by forging signatures, or triggering a confidence shock that forces large holders to de-risk before any protocol break occurs.
"I think in the long run, quantum will not be a huge issue for crypto."
Mike Novogratz, Galaxy earnings call transcript
In the same transcript discussion, Novogratz said Bitcoin could adapt, adding that "Bitcoin especially will be able to handle it."
Galaxy's official release for Q4 2025 reported a $482 million net loss and said total crypto market cap fell about 24%, which supports the view that broad risk-off conditions were a major driver.
Cointelegraph reported that Galaxy research head Alex Thorn said the $9 billion trade was not caused by quantum concerns.
Taken together with Galaxy's 24% market-cap drawdown context, this supports reading the selloff as positioning stress rather than pure quantum panic, similar to how flow narratives developed in Ethereum Foundation Sells 5,000 ETH: Why This $10M Move Signals Long-Term Growth and XRP Short Sellers Drive 1,278% 12-Hour Liquidation Imbalance.
How Quantum Computing Could Threaten Bitcoin in Theory
Bitcoin's main quantum exposure is signature security, and Google's elliptic-curve warning explains why a fault-tolerant machine could target key recovery after public key reveal events.
"Future quantum computers may break the elliptic curve cryptography that protects cryptocurrency."
Ryan Babbush and Hartmut Neven, Google Research
Google Research's updated estimate says this class of attack could be feasible with fewer than 500,000 physical qubits under stated assumptions, which makes capability thresholds the key variable to watch.
Wallet-level risk is also uneven: outputs tied to reused addresses or already revealed public keys are the clearest theoretical targets, while untouched outputs with unrevealed keys are less exposed in a transition window.
The mining side is a separate channel. Quantum speedups can change hash-search economics, but they do not automatically let an attacker forge signatures or rewrite Bitcoin's rules without broader network-level consequences.
Why Bitcoin Is Not Defenseless and What to Watch Next
At the research snapshot, Bitcoin was around $71,382, with a 24-hour change of +2.9058%, a market cap near $1.43 trillion, and 24-hour volume around $53.57 billion, based on CoinGecko data captured in this brief.
On-chain context is still useful: CryptoQuant's exchange reserve chart highlights a structural reserve trend that desks track when estimating near-term sell pressure versus long-term custody behavior.
The protocol-level defense is upgradeability: as Novogratz argued in the Feb. 3, 2026 call transcript, Bitcoin can migrate signature standards through consensus, but that path is a governance and deployment process, not a single switch flipped overnight.
For users, the practical preparation list is simple: avoid address reuse, keep long-term holdings in well-managed cold storage, and monitor credible core-dev and research discussions on post-quantum signature migration timelines.
Novogratz also said U.S. market-structure progress, including CLARITY Act discussion on the call, could become a catalyst if policy uncertainty cools.
That balance of technology risk and policy risk is why narrative shocks should be cross-checked against primary data, a lesson that also appears in Craig Wright Retracts Satoshi Claim as XRP ETF Inflows Reach 3.32 Million.
Current evidence supports a measured stance: quantum risk is real enough to plan for, but the data cited by Galaxy and Google supports preparation over panic.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
Read original article on marketbit.net