Bitcoin’s “quantum” death sentence is causing a Wall Street rift, but the fix is already hidden in the code

A rift has emerged on Wall Street regarding Bitcoin's future, exemplified by the opposing views of two strategists named Wood. Christopher Wood of Jefferies liquidated his firm's 10% Bitcoin allocation, citing the existential threat posed by quantum computing, which could eventually break the network's cryptography, especially for vulnerable addresses.

Conversely, Cathie Wood of ARK Invest argues investors should focus on Bitcoin's proven lack of correlation with traditional assets like gold and bonds, framing it as an uncorrelated return stream with asymmetric upside, rather than focusing on distant technical anxieties. Experts like Charles Edwards suggest the quantum threat horizon is closer than markets realize, potentially within 4 to 5 years, creating a "Quantum Event Horizon."

However, others, including Grayscale and Bitwise Europe's Andre Dragosch, view the immediate quantum threat as a "red herring," noting the massive computational gap between current technology and what is needed to attack Bitcoin's hashing power. The core debate shifts the institutional narrative: Jefferies prioritizes assets like physical gold that require no governance or upgrades, while ARK prioritizes diversification benefits, even if Bitcoin's long-term survival depends on successfully coordinating a post-quantum code transition.

(Source：CryptoSlate)