Jefferies’ Wood Drops Bitcoin on Threat From Quantum Computing - Bloomberg

Jefferies’ veteran analyst Christopher Wood dropped Bitcoin from his model portfolio in January 2026, citing long-term risks from quantum computing’s ability to break cryptographic security. Wood warned that quantum advancements could render Bitcoin’s encryption obsolete, undermining its value proposition as a secure digital asset within a decade. The move reflects growing institutional concern over post-quantum cryptography, as governments and tech firms race to develop quantum-resistant algorithms before large-scale quantum computers emerge. Bitcoin’s price reacted sharply to the announcement, highlighting market sensitivity to quantum threats despite current quantum hardware limitations. This marks a rare high-profile divestment tied directly to quantum risk, signaling potential broader shifts in crypto investment strategies as quantum capabilities advance.