Jefferies strategist Christopher Wood removes 10% Bitcoin stake amid quantum computing risks

On January 16 2026, Jefferies global head of equity strategy Christopher Wood disclosed that he has fully removed Bitcoin from his model portfolio, where it previously held a 10% weighting. Citing accelerating advances in quantum computing, he argued that potential attacks on Bitcoin's cryptographic security could undermine its role as a long-term store of value and digital alternative to gold. Wood shifted the former Bitcoin allocation into 5% gold and 5% gold-mining equities while industry experts warn that millions of BTC could be exposed to future quantum threats.