Strategist closes position in Bitcoin from model portfolio due to quantum computing
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Until then, Bitcoin represented 10% of Christopher Wood's model portfolio. The space will be occupied and equally divided by physical gold and shares of gold mining companies, each with 5% of the total.
According to Wood, advances in quantum computing are weakening the thesis of Bitcoin as a reliable store of value, especially for long-term investors.
Due to its scarcity, many see Bitcoin as a digital gold. However, besides the long monetary history of the metal, it does not have the risks associated with cryptocurrencies.$BTC
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