Jefferies chief strategist removes Bitcoin allocation due to quantum computing risks

According to Bloomberg, Christopher Wood, the global equity strategist at Jefferies, recently removed 100% of the 10% Bitcoin allocation in his model portfolio, citing that the development of quantum computing could undermine the cryptographic security of Bitcoin.

Wood stated that if quantum computing continues to advance, Bitcoin's value storage properties as a long-term, pension-like asset will face challenges, and this risk is beginning to enter the consideration of mainstream asset allocation.