{"id":6114,"date":"2026-01-16T21:17:18","date_gmt":"2026-01-16T21:17:18","guid":{"rendered":"https:\/\/digkrypton.com\/index.php\/2026\/01\/16\/jefferies-analyst-dumps-bitcoin-over-quantum-computing-fears-buys-gold\/"},"modified":"2026-01-16T21:17:18","modified_gmt":"2026-01-16T21:17:18","slug":"jefferies-analyst-dumps-bitcoin-over-quantum-computing-fears-buys-gold","status":"publish","type":"post","link":"https:\/\/digkrypton.com\/index.php\/2026\/01\/16\/jefferies-analyst-dumps-bitcoin-over-quantum-computing-fears-buys-gold\/","title":{"rendered":"Jefferies\u2019 Analyst Dumps Bitcoin Over Quantum Computing Fears, Buys Gold"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Jefferies\u2019 Analyst Dumps Bitcoin Over Quantum Computing Fears, Buys Gold<\/a><\/p>\n

<\/div>\n

Christopher Wood, global head of equity strategy at Jefferies, has eliminated Bitcoin from his flagship Greed & Fear<\/em> model portfolio, citing concerns that developments in quantum computing<\/a> could pose an existential threat to the cryptocurrency\u2019s cryptographic foundations.<\/p>\n

In the latest edition of the widely followed newsletter, Wood confirmed that Jefferies has removed its entire 10% Bitcoin allocation, replacing it with a split allocation of 5% to physical gold and 5% to gold-mining equities, according<\/a> to Bloomberg.<\/em>\u00a0<\/p>\n

The strategist said the move reflects rising uncertainty over whether Bitcoin can maintain its role as a long-term store of value in the face of accelerating technological change.<\/p>\n

\u201cWhile Greed & Fear<\/em> does not believe that the quantum issue is about to hit the Bitcoin price dramatically in the near term, the store-of-value concept is clearly on less solid foundation from the standpoint of a long-term pension portfolio,\u201d Wood wrote.<\/p>\n

Wood was an early institutional supporter of Bitcoin, first adding it to the model portfolio in December 2020 amid pandemic-era stimulus and fears of fiat currency debasement. He later increased the allocation to 10% in 2021.<\/p>\n

Since that initial inclusion, Bitcoin has risen approximately<\/a> 325%, compared with a 145% gain in gold over the same period.<\/p>\n

Quantum computing presents structural risks to Bitcoin\u00a0<\/h2>\n

Despite the strong performance, Wood argues that quantum computing<\/a> presents a structural risk that cannot be ignored. Bitcoin\u2019s security relies on cryptographic algorithms that are effectively unbreakable using classical computers.\u00a0<\/p>\n

However, sufficiently powerful quantum machines could theoretically derive private keys from public keys, enabling unauthorized transfers and undermining confidence in the network.<\/p>\n

Security researchers estimate<\/a> that roughly 20% to 50% of Bitcoin\u2019s total supply \u2014 between 4 million and 10 million BTC \u2014 could be vulnerable under certain conditions.\u00a0<\/p>\n

Coinbase researchers have identified<\/a> approximately 6.5 million BTC held in older wallet formats where public keys are already exposed on-chain, making them susceptible to so-called long-range quantum attacks.<\/p>\n

The issue has sparked a growing divide within the Bitcoin ecosystem. Some think that developers are underestimating the risk. Others, including Blockstream CEO Adam Back, maintain<\/a> that the threat remains distant and that quiet preparatory work toward quantum-resistant signatures is preferable to alarming investors.<\/p>\n

The debate has also begun to reach mainstream finance. BlackRock has listed quantum computing as a potential long-term risk in its spot Bitcoin ETF disclosures, while Solana co-founder Anatoly Yakovenko recently suggested<\/a> there is a 50% chance of a meaningful quantum breakthrough within five years.<\/p>\n

For Wood, the uncertainty itself strengthens the case for gold.<\/p>\n

He described the metal as a historically tested hedge in an increasingly volatile geopolitical and technological landscape, concluding that the long-term questions raised by quantum computing are \u201conly positive for gold.\u201d<\/p>\n

Gold climbed to record highs<\/a> this month, topping $4,600 per ounce, as investors piled into the safe-haven asset amid escalating geopolitical tensions involving Iran and growing expectations that the Federal Reserve will cut interest rates following softer U.S. inflation and labor market data.<\/p>\n

This post Jefferies\u2019 Analyst Dumps Bitcoin Over Quantum Computing Fears, Buys Gold<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Jefferies\u2019 Analyst Dumps Bitcoin Over Quantum Computing Fears, Buys Gold Christopher Wood, global head of equity strategy at Jefferies, has eliminated Bitcoin from his flagship Greed & Fear model portfolio, citing concerns that developments in quantum computing could pose an existential threat to the cryptocurrency\u2019s cryptographic foundations. In the latest edition of the […]<\/p>\n","protected":false},"author":0,"featured_media":6115,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-6114","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/6114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=6114"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/6114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/6115"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=6114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=6114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=6114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}