Group 1 - The CEO of Galaxy Digital Inc., Mike Novogratz, believes that concerns regarding quantum computing's impact on Bitcoin are exaggerated and referred to them as a "big excuse" for selling by Bitcoin whales and long-term holders [1][2] - Novogratz expressed confidence that Bitcoin's core developers will adapt the code to be quantum-resistant as quantum computing technology advances [2] - He noted that the behavior of early Bitcoin investors, particularly profit-taking, is influencing market dynamics, suggesting that once selling begins, it can lead to a cascading effect [3] Group 2 - Galaxy Digital reported a loss per share of $1.08 for the fourth quarter, which was wider than the anticipated loss of 52 cents per share, attributed to falling digital asset prices [4] - The trading activity for Galaxy Digital weakened significantly, with digital asset trading volumes dropping approximately 40% quarter over quarter following a strong third quarter [4] - Following the earnings report, Galaxy shares fell 16.87% during regular trading and an additional 0.64% in after-hours trading, indicating a negative price trend [5]
Galaxy CEO Mike Novogratz Points To Quantum Uncertainty As 'Big Excuse' Behind Early Investors Selling Off Bitcoin: 'Not A Huge Issue' - Coinbase Global (NASDAQ:COIN)