Galaxy Digital has clarified that a record-breaking $9 billion Bitcoin ($BTC) sale executed for a Satoshi-era client was not motivated by fears of quantum computing. Alex Thorn, Galaxy’s Head of Research, addressed the speculation on Tuesday, February 3, 2026, confirming the trade was part of a strategic estate planning move rather than a panic-induced exit over network security vulnerabilities.
quantum is not why the whale sold
novo didn’t connect the two. he said it was one reason ppl are claiming for btc weakness, but he disagrees with that (this is clear if you read the full transcript)
he then clarified on bloomberg that quantum isn’t the reason for btc weakness https://t.co/pxvqOvsTZZ pic.twitter.com/JT5Qi0PXI4
— Alex Thorn (@intangiblecoins) February 3, 2026
During Galaxy Digital’s Q4 2025 earnings call, CEO Mike Novogratz called the transaction a “big excuse” used by some to justify recent market volatility. The sale involved 80,000 BTC, which had remained dormant since 2011, making it one of the largest notional transactions in the history of the industry. Analysts noted that the sheer size of the position required a lengthy unwinding process, which contributed to downward pressure on $BTC prices throughout the latter half of 2025.
Estate planning over quantum panic
Speculation regarding quantum computing risks intensified after several high-profile analysts suggested that OGs (Original Gangsters) were exiting due to Bitcoin’s perceived lack of quantum resistance. However, Thorn dismissed these claims in a post on X, stating that the client was focused on “generational wealth transfer” and diversifying a decade-old position.
Galaxy reported a net loss of $482 million for the fourth quarter of 2025, largely attributed to the challenging market conditions and the complexities of facilitating such massive trades. Despite the scale of the $9 billion liquidation, Novogratz highlighted that “leverage in the system” has decreased significantly, suggesting that the “HODL fever” among early adopters may be transitioning into a more mature phase of institutional-grade distribution.
Understanding the quantum debate
The impact of quantum breakthroughs remains a long-term talking point for the Web3 community. While experts like Blockstream CEO Adam Back argue that practical quantum threats are decades away, the Ethereum Foundation recently elevated post-quantum security to a strategic priority. For Bitcoin, potential upgrades like BIP-360 are being discussed to introduce post-quantum signatures to the network.
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