Christopher Wood, head of global financial strategies at Jefferies, states that he is withdrawing 10% of bitcoins from his portfolio. The reason for his actions is that quantum computers have been developing quite rapidly recently, and their characteristics threaten the very existence of the entire cryptocurrency due to a fairly high likelihood of breaking the cryptographic protection of these virtual currencies.
Wood first added bitcoins to his portfolio in 2020, and then increased their share to 10% of the entire portfolio in 2021. Now he is getting rid of this 10%.
Bitcoin uses the SHA-256 algorithm, which is (technically) impossible to hack with existing computers, however, quantum computers are forecasted to potentially succeed in this task by the 2030s.