These days, there's a lot of talk about quantum computing posing a threat to Bitcoin, but Novogratz, Galaxy's CEO, made some pretty interesting comments recently. He believes that quantum technology won't actually pose a significant threat to Bitcoin. Of course, he thinks that in the long run, the network can adapt with quantum-resistant codes.

What's interesting is that this is being used as an excuse for selling among investors. Novogratz directly pointed out, "Quantum technology has become a big excuse for people." Some Wall Street strategists and certain companies are reducing their Bitcoin exposure citing quantum risks, but experts believe it will take decades for truly dangerous quantum computers to emerge.

Even more intriguing are the moves by early Bitcoin OGs. Last year, Galaxy facilitated the sale of over 80,000 Bitcoins from Satoshi-era investors, worth about $9 billion, which caused a stir. Novogratz worries this could crack the HODLing culture. He said, "Once people start selling, they’ll keep selling little by little, making HODLing really difficult."

Thinking about it, the religious-like faith that the early community had might naturally be fading. Long-term holders are realizing profits, and Novogratz sees this as potentially triggering a broader sell cycle. However, his assessment that the quantum computing threat is exaggerated seems quite convincing.