[Galaxy CEO: Bitcoin's Biggest Risk Lies in Governance, Not Quantum Computing] According to Cryptobriefing, Galaxy Digital CEO Mike Novogratz stated during an earnings call that the biggest risk currently facing Bitcoin is internal governance issues, rather than quantum computing. He believes quantum computing is more of a market hype narrative and expects Bitcoin to upgrade to quantum-resistant technology in a timely manner. Novogratz pointed out that Bitcoin's true long-term threat lies in potential persistent disagreements among developers or the inability to reach consensus on upgrades. However, he considers such scenarios unlikely, as Bitcoin has the capability to address these challenges. Regarding the recent market downturn, Novogratz believes the selling pressure mainly stems from long-term holders distributing their tokens, rather than a collapse in market confidence. While acknowledging the possibility of further downside, he intuitively feels the market is closer to a cyclical bottom rather than the beginning of another prolonged crypto winter. He mentioned that legislative progress on the U.S. crypto market regulatory framework could act as a catalyst to attract new demand through Wall Street channels. Additionally, he emphasized that Bitcoin's role as a macro asset supported by both retail and institutional investors has been firmly established.