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A Galaxy Digital client sold $9 billion in Bitcoin, attributed partly to concerns over quantum computing's potential threat to cryptocurrency security. CEO Mike Novogratz noted the sale, linked to estate planning from a Satoshi-era investor, contributed to market downturns as it took time to unwind.

This sale reflects a broader trend of profit-taking among early Bitcoin adopters, with HODLing sentiment weakening. The quantum threat has sparked discussions on upgrading Bitcoin's encryption to ensure quantum resistance, with various industry leaders, including Cardano's founder, emphasizing proactive measures.

Coinbase acknowledged quantum computing as a long-term risk, particularly due to Shor's algorithm's potential to compromise wallet security. Current quantum computers lack the necessary power to pose an imminent threat, but the fear has led to significant market consequences, including adjustments in investment strategies by major firms.