Christopher Wood, Global Head of Equity Strategy at Jefferies, recently removed all 10% of the Bitcoin allocation in his model portfolio, citing concerns that advancements in quantum computing could undermine Bitcoin's cryptographic security. Wood stated that if quantum computing continues to make breakthroughs, Bitcoin's value proposition as a long-term, pension-like store of value will face challenges, and this risk is beginning to enter the consideration set for mainstream asset allocation.

[Bloomberg]

Jefferies strategist Christopher Wood stated in the latest edition of his "Greed & Fear" market newsletter that he has completely removed Bitcoin from his flagship model portfolio, reversing a 10% allocation he first added in late 2020. That position has now been replaced with a combination of physical gold and gold mining stocks.

Christopher Wood added that breakthroughs in quantum computing would undermine Bitcoin’s role as a reliable store of value for pension-style investors. If the timeline for quantum technology advancement shortens, some capital allocators would now question Bitcoin’s store-of-value properties. Attacks related to cryptography could emerge earlier than expected, enabling attackers to derive private keys from exposed public keys, thereby weakening the cryptographic foundation underpinning Bitcoin balances and mining rewards, and challenging its role as “digital gold” in pension-style investment portfolios. (Bloomberg)

[Odaily]

Jefferies strategists: Removed Bitcoin from portfolio due to concerns over quantum computing risks

Christopher Wood, Global Head of Equity Strategy at Jefferies, stated in the latest Greed & Fear newsletter that he has removed Bitcoin's 10% weighting from his model portfolio due to concerns that quantum computing could undermine Bitcoin's foundation as a store of value. He pointed out that quantum computing could accelerate the cracking of encryption algorithms, threatening the security of Bitcoin's private keys and its mining mechanism.

Wood, who has been allocating to Bitcoin since 2020, is now shifting that allocation to 5% physical gold and 5% gold mining stocks.

[PANews]

Jefferies' head of strategy removed Bitcoin from portfolio due to risks associated with quantum computing.

According to Bloomberg, Christopher Wood, global head of equity strategy at Jefferies, recently removed his entire 10% Bitcoin allocation from his model portfolio, citing concerns that the development of quantum computing could undermine Bitcoin's cryptographic security.

Wood stated that if quantum computing continues to advance, Bitcoin's value as a long-term, pension-like store of value will be challenged, and this risk is beginning to enter the mainstream asset allocation considerations.

[ChainCatcher]

MAG7.SSI

Jefferies Chief Strategist Removes Bitcoin Allocation Due to Quantum Computing Risks

On January 16, according to Bloomberg, Jefferies' global equity strategy director Christopher Wood recently removed his entire 10% allocation to Bitcoin from his model portfolio, citing the development of quantum computing as potentially weakening Bitcoin's cryptographic security.

Wood stated that if quantum computing continues to advance, Bitcoin's value as a long-term, pension-like store of value will be challenged, and this risk is beginning to enter the mainstream asset allocation considerations.

[BlockBeats]

Jefferies chief strategist removes Bitcoin allocation due to quantum computing risks

On January 16, according to Bloomberg, Jefferies' global equity strategy director Christopher Wood recently removed his entire 10% allocation to Bitcoin from his model portfolio, citing the development of quantum computing as potentially undermining Bitcoin's cryptographic security.

Wood stated that if quantum computing continues to advance, Bitcoin's value as a long-term, pension-like store of value will be challenged, and this risk is beginning to enter the mainstream asset allocation considerations.

[律动]

January 16th, according to Bloomberg, Christopher Wood, Global Head of Equity Strategy at Jefferies, recently removed the 10% Bitcoin allocation from its model portfolio, citing the development of quantum computing as a potential threat to Bitcoin's cryptographic security.

Wood stated that if quantum computing continues to advance, Bitcoin's value proposition as a long-term, quasi-digital gold asset could be challenged, and this risk is starting to be factored into mainstream asset allocation considerations.

[BlockBeats News]

Jefferies' Chief Strategist Removes Bitcoin Allocation Due to Quantum Computing Risk

On January 16 (UTC+8), Christopher Wood, Head of Global Equity Strategy at Jefferies, said he had completely removed the 10% Bitcoin allocation from his model portfolio. Wood believes that the rapid development of quantum computing poses a potential threat to Bitcoin's cryptographic security and its status as a long-term store of value—especially for pension investors seeking long-term stability.

The 10% allocation previously held in Bitcoin has been reallocated to the gold sector, with 5% assigned to physical gold and another 5% to gold mining stocks.

Wood noted that since its initial allocation in December 2020, Bitcoin has risen 325%, significantly outperforming gold, which rose 145% over the same period. However, against a backdrop of rising geopolitical risks and emerging technological threats, gold’s long-standing appeal as a historically proven safe-haven asset is increasing. (Source: Foresight News)

[ME News]

Jefferies removes 10% Bitcoin weight from its model portfolio due to quantum computing threats, shifting instead to increased gold holdings

Wood added bitcoin to the model portfolio in late 2020 and increased exposure in 2021, arguing it could serve as an alternative to gold as governments pumped stimulus into the economy. He is now leaning back toward assets with longer track records.

The concern is simple. Bitcoin relies on cryptography to secure wallets and authorize transfers. Current computers cannot realistically break those protections. But future machines exploiting features of quantum mechanics could make it easier to work backward from public information to the private keys that are used to authorize transactions.

Many bitcoin developers say the threat is not near-term. Some, including longtime developer Jameson Lopp, have argued that quantum risk remains years away and any serious transition would take time.

Likewise, Wood’s shift is not a not signal that quantum computing is an immediate threat to bitcoin. It does show that long-term security questions are beginning to influence how some investors think about allocations.

Jefferies strategist Christopher Wood swaps bitcoin for gold on quantum computing concern


On January 16, according to Bloomberg, Christopher Wood, global head of equity strategy at Jefferies, has removed 10% of his Bitcoin allocation from his model portfolio. In the latest "Greed & Fear" newsletter, Wood said that advances in quantum computing technology could weaken the argument for Bitcoin as a reliable store of value, especially for long-term investors such as pension funds.

[TechFlow]

Jefferies strategists abandon Bitcoin allocation due to quantum computing threat

Jefferies’ Greed & Fear strategist Christopher Wood has slashed a 10% Bitcoin allocation from his portfolio and moved into gold, citing the quantum risk to BTC, Bloomberg reports.

Jefferies’ ‘Greed & Fear’ strategist cuts Bitcoin allocation to zero on quantum risk


杰富瑞（Jefferies） 全球股票策略主管 Christopher Wood 近日将其模型投资组合中 10% 的比特币配置全部移除，理由是量子计算的发展可能削弱比特币的加密安全性。Wood 表示，若量子计算持续突破，比特币作为长期、类养老金资产的价值储存属性将面临挑战，这一风险正开始进入主流资产配置的考量范围。

[彭博社]

Jefferies 首席策略师因量子计算风险移除比特币配置


傑富瑞（Jefferies） 全球股票策略主管 Christopher Wood 近日將其模型投資組合中 10% 的比特幣配置全部移除，理由是量子計算的發展可能削弱比特幣的加密安全性。Wood 表示，若量子計算持續突破，比特幣作為長期、類養老金資產的價值儲存屬性將面臨挑戰，這一風險正開始進入主流資產配置的考量範圍。

[彭博社]