Jefferies Strategist Christopher Wood Dumps Bitcoin for Gold, Citing Quantum Computing Threat to BTC

Christopher Wood, the global head of equity strategy at Jefferies, has made a significant shift in his investment portfolio. The veteran strategist has sold his Bitcoin (BTC) exposure in favor of gold, citing growing concerns over the long-term threat posed by quantum computing to cryptocurrencies. In his weekly "Greed & Fear" newsletter, Wood explained that this move is a precautionary measure to hedge against the potential future risk that quantum computers could break the cryptographic security underlying Bitcoin and other digital assets. While he remains a long-term bull on Bitcoin, Wood stated that the quantum computing concern is a key reason for reducing his personal allocation. This decision highlights a growing debate within financial circles about the technological vulnerabilities of blockchain in the face of advancing quantum technology.