Jefferies ‘Greed & Fear’ Strategist Drops Bitcoin on Quantum Risk
Jefferies strategist Christopher Wood eliminated Bitcoin from his model portfolio due to rising quantum computing security risks.Summary
Christopher Wood, Jefferies' longtime strategist behind the 'Greed & Fear' newsletter, has removed Bitcoin entirely from his flagship model portfolio, replacing the 10% allocation with physical gold and gold mining stocks. Wood cited mounting concerns that advances in quantum computing could compromise Bitcoin's long-term security, weakening its claim as a dependable store of value for institutional investors. He warned that if cryptographically relevant quantum machines arrive sooner than expected, they could derive private keys from public keys, undermining the cryptography supporting Bitcoin balances. This move signals that quantum risk is influencing mainstream asset allocation decisions, although Bitcoin developers like Adam Back argue that migration to post-quantum algorithms will be feasible long before any real-world break becomes imminent, estimating such a threat is 20–40 years away.
(Source：Cointelegraph)