Galaxy Digital has moved quickly to retract the theory that the large Bitcoin transactions it handled were prompted by concerns about quantum computers.
Although reports say a large transaction took place, researchers at the company revealed that the motive was not a sudden technological panic.
Galaxy denies quantum motive
Alex Thorne, head of research at Galaxy, said the trade, made on behalf of a wealthy client, was not about Bitcoin’s resistance to future quantum attacks.
The company also announced its quarterly results, with a net loss of $482 million for the fourth quarter of 2025, and a loss of $241 million for all of 2025.
These numbers, coupled with large trades, spread the word through crypto channels and social feeds.
Hey there, buddy. what to translate @novogratz Saying it here (via $GLXY (Earnings announcement on AM): The $9 billion in block trades that Galaxy made last quarter was for the 1) fast/rich (obviously), 2) smart, and 3) pretty worried. $BTC Quantum resistance https://t.co/kooKJyjB1s pic.twitter.com/iUsu1pvM17
— Kellang Grenier (@kellanggrenier) February 3, 2026
Market timing and headlines
During the same period, Bitcoin briefly fell below $75,000, and the price movement caused a lot of commotion. Some linked the whale sale to the threat of new technology.
Several market commentators reportedly cited quantum computing as a reason for the selloff. However, many experts objected to this, arguing that the timetable for developing a quantum machine capable of breaking Bitcoin’s encryption is long.
It wasn’t the quantum that sold the whale.
novo did not connect the two. He said that’s one of the reasons people are claiming Bitcoin’s weakness, but he doesn’t agree with that (it’s clear if you read the full article)
He then clarified on Bloomberg that quantum is not the cause of Bitcoin’s weakness https://t.co/pxvqOvsTZZ pic.twitter.com/JT5Qi0PXI4
— Alex Thorne (@intangiblecoins) February 3, 2026
Adam Back, a longtime voice in the field, argued that any significant quantum threat is decades away, not an event in the near future.
Ethereum co-founder Vitalik Buterin agreed that blockchains could adopt stronger signatures long before widespread risks materialize.
Andreas Antonopoulos, a prominent Bitcoin educator and author, emphasized that if quantum computers become this powerful, many global systems, not just cryptocurrencies, will already be affected.
BIP-360 and community reaction
Defenses have emerged within the ecosystem. Proponents and some fund managers are promoting BIP-360, a proposal that would add post-quantum signature options to vulnerable Bitcoin addresses.
The report notes that these measures reflect planning rather than panic. These indicate that developers and stakeholders are discussing options and preparing for possible upgrades. This planning is part of normal risk management in a system that values longevity.
Transaction reasons may be mixed
Large holders sell for a variety of purposes, including tax planning, portfolio rebalancing, liquidity needs, and strategic hedging. It is rare for a single rationale, especially speculative technology concerns, to explain a deal of this size without other supporting signals.
With Galaxy’s denial, the quantum angle looks like an after-the-fact story that filled a gap in an already volatile market.
Featured image from Unsplash, chart from TradingView
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