Jefferies Shifts Investment from Bitcoin to Gold Citing Quantum Computing Risks

Jefferies strategist Christopher Wood announced the complete withdrawal of a 10% Bitcoin allocation due to long-term concerns about quantum computing potentially compromising Bitcoin's cryptographic security. The funds will be evenly reallocated to physical gold and gold-mining stocks. While acknowledging Bitcoin's strong past performance, Wood emphasized that accelerating quantum computing developments pose an existential risk to Bitcoin's role as a stable store of value, prompting a strategic shift toward gold assets.