Jefferies Removes Bitcoin from Portfolio Due to Quantum Computing Risks
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 3d ago- Portfolio Adjustment: Christopher Wood, Jefferies' Global Head of Equity Strategy, has removed Bitcoin from his Greed & Fear model portfolio, replacing it with physical gold and gold mining stocks, reflecting growing concerns over quantum computing risks.
- Market Reaction: This decision has sparked widespread discussion regarding Bitcoin's cryptographic security, prompting institutional investors to reevaluate the vulnerabilities of cryptocurrencies, which could impact Bitcoin's role as a store of value.
- Quantum Computing Threat: The potential threats posed by quantum computing have been a topic of discussion among developers for years, and Jefferies' significant reallocation marks one of the first notable responses to concerns about cryptographic security, potentially leading to similar risks for other digital assets.
- Future Outlook: While some experts suggest that quantum threats are not imminent, investors must remain vigilant about upgrades to post-quantum algorithms to ensure the long-term security of crypto assets, and Jefferies' actions may increase demand for security solutions within the industry.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
