Crypto
Jefferies drops 10 percent bitcoin allocation on quantum computing risk, boosts gold
Christopher Wood, Jefferies\' global head of equity strategy and a long-time bitcoin bull, has removed bitcoin from his model portfolio, citing quantum computing risks. He eliminated a 10 percent bitcoin allocation held for five years and shifted it to physical gold and gold mining stocks, 5 percent each. Wood said quantum threats were unlikely to hit prices soon but could undermine bitcoin’s long-term store-of-value premise. He also cited research warning some circulating bitcoin could be vulnerable.
