Wall Street Loses Faith in Bitcoin-And the World Keeps Spinning

Welcome to the US Crypto News Morning Briefing-your essential rundown of the most important developments in crypto for the day ahead. Sit back with your coffee, if you have one, because today we aren’t discussing price charts or the next big thing in ETFs. No, today’s story is about a quiet, yet rather dramatic, shift in the minds of those who pretend to be wise-the question of whether Bitcoin, in its current form, is destined for the recycling bin of history. ☕️📉

Crypto News of the Day: Why One of Wall Street’s Biggest Bitcoin Bulls Just Walked Away

In the shadowy corridors of high finance, a peculiar change has taken place. Christopher Wood, renowned as Wall Street’s favorite oracle and boss of equity strategies at Jefferies, has decided that Bitcoin no longer belongs in his cherished model portfolio. This is akin to a chef suddenly rejecting salt-unexpected and perhaps a sign of impending disaster.

What prompted this shift? Not the wild swings in price-oh no, Wood’s got bigger concerns. The real reason? Doubts about Bitcoin’s ability to stand the test of decades, much like an old man’s loyalty to his wife-questionable and fading.

He’s taken his 10% Bitcoin stake and-puff-added it to the glittering allure of gold and gold-mining stocks, because, naturally, shiny metals are forever, right? Or so the old men like to tell us.

This move was laid out in his latest newsletter, Greed & Fear, where he pointed to the looming threat of quantum computers-those bizarre devices promising to turn encryption security into Swiss cheese.

“The distant specter of quantum computing has finally prompted one of the most influential market strategists to walk away from Bitcoin,” Bloomberg reports. Because if something exists only in the realm of theoretical physics long enough, it’s bound to be reliable, isn’t it?

Wood was an early admirer of Bitcoin, first embracing it during the pandemic when stimulus checks flowed like wine. He even upped his stake in 2021, thinking maybe, just maybe, Bitcoin would outshine gold, which, by the way, gained a mere 145% in the same period.

But now, performance no longer matters. The future worries Wood-quantum computers might one day crack Bitcoin’s codice, rendering it as secure as a leaky old umbrella in a hurricane.

“There’s a growing concern that quantum computing might arrive sooner than everyone thought, possibly within a few years rather than decades,” Wood wrote, sounding more and more like a worried grandpa at a tech conference.

And the security of Bitcoin? Well, it relies on cryptography so complex that today’s computers struggle to crack it. But… enter the quantum computers! These mean machines could, in hours or days, reverse-engineer private keys, turning the cipher into Swiss cheese faster than you can say “blockchain.”

Quantum Risk, Governance, and the Institutional Rethink of Bitcoin

The debate about quantum computers echoes the age-old feud between those who hold the purse strings and those who hold the code. Nic Carter, a partner at Castle Island Ventures, summed it up nicely: “Just think of the massive chasm between the worried investors and the developers who pretend everything’s fine.”

Proposals to address this existential threat involve burning vulnerable coins or migrating to post-quantum cryptography-choices that sound more like a game of property rights Russian roulette than serious solutions. Who owns what? And can rules be changed at will? These questions hang in the air like a bad smell.

The crypto community debates whether quantum computers threaten the entire blockchain, especially Bitcoin. Here’s the gist: current cryptography rests on private keys and public keys-like a secret handshake. But with the right quantum computer? That handshake becomes an open book.

– Cardano YOD₳ (@JaromirTesar) December 22, 2025

Jefferies warns that Bitcoin’s security is already fragile. Satoshi-era holdings and coins lost in the mists of time-probably in wallets long forgotten or misplaced-are all sitting ducks for the quantum hacker. Millions of BTC could be at risk, which sounds delightful, if you’re in the security business.

Even Coinbase’s research boss, David Duong, admits that while today’s quantum tech can’t break Bitcoin, a long-range attack could threaten around 6.5 million coins. Migration to post-quantum cryptography? Years away, and yet, unavoidable like taxes.

Meanwhile, Wood insists that gold remains the safe harbor-resisting the technological and political chaos that could undo Bitcoin in a flash. It’s the old reliable, the rock of ages, the one thing guaranteed to outlive conspiracy theories.

But not everyone agrees. Justin Bons, some cyber prophet, predicts Bitcoin might collapse after 2033-primarily because miners will be paid less, and the security budget will sag, leading to attacks that make a hacker’s wildest dreams come true. Inflation? Double-spends? That’s just a typical Tuesday for Bons.

“Bitcoin will fall apart between 7 to 11 years from now,” Bons declares boldly on Twitter. The end of the chain, quite literally, with a flourish of fancy words and no regard for the chaos to come.

He talks of attacks cheaper than a fancy dinner-less than $3 million daily-able to double-spend on exchanges and make “trust in paradise” just a memory. Security? Oh, what a joke.

Chart of the Day

Byte-Sized Alpha

Crypto Equities Pre-Market Overview

Company	Close As of January 15	Pre-Market Overview
Strategy (MSTR)	$170.91	172.74 (+1.07%)
Coinbase (COIN)	$239.28	$241.38 (+0.88%)
Galaxy Digital Holdings (GLXY)	$31.99	$32.21 (+0.69%)
MARA Holdings (MARA)	$10.66	$10.74 (+0.75%)
Riot Platforms (RIOT)	$16.57	$16.76 (+1.15%)
Core Scientific (CORZ)	$18.08	$18.25 (+0.94%)

2026-01-16 21:04