Jefferies’ Greed & Fear strategist Christopher Wood cut a 10% Bitcoin allocation and shifted the funds into gold, citing quantum-related risks to BTC’s cryptography, Bloomberg reports. The move underscores institutional caution even as the timeline for practical quantum threats remains uncertain.
Jefferies says Tether accumulated about 116 tonnes of gold—nearly 2% of last quarter’s global demand—creating a reserve comparable to South Korea and Hungary and potentially shifting short‑term market sentiment.