Jefferies' Christopher Wood drops 10% Bitcoin from model portfolio, reallocates to gold on quantum risks

On January 16, 2026, Bloomberg reported that Jefferies' global equity strategist Christopher Wood removed Bitcoin after four years, eliminating a 10% allocation and shifting the exposure to physical gold and gold-mining stocks due to quantum-computing concerns. Researchers estimate around 30% of circulating BTC could face quantum exposure under certain conditions, while debate across the crypto sector highlights divergent views on timelines and mitigations.