Billionaire Jeremy Grantham Bitcoin criticism returned on CNBC as the GMO co-founder said BTC▼$59,627.00 will fade over decades.
Billionaire investor Jeremy Grantham, the GMO co-founder known for warning about market bubbles, renewed his Bitcoin criticism on CNBC, saying the largest crypto by market cap will fade over decades instead of becoming stable money.
Commenting on Bitcoin, Grantham renewed his long-running attack, calling it a “useless, speculative” asset with no real intrinsic value.
Grantham said he expects Bitcoin to fade “over years and years, decades and decades,” adding that it will “dwindle away” not “with a bang, but a whimper,” because in his view BTC is “not a stable form of value” after halving “for no particular reason in a strong economy.”
But in crypto circles, Grantham is an easy target because his public brand has long been built around bubble warnings.
- He warned about the dot-com bubble and the U.S. housing bubble before 2008.
- Then spent the post-COVID boom warning that U.S. stocks had entered a “superbubble.”
- More recently, he has also warned about bubble conditions around AI and the broader U.S. market.
Bitcoin Use Case Rejected
As Grantham argues, Bitcoin still hasn’t shown enough practical use after years of adoption, especially as a payment system:
“People don’t use it to make serious trades, they don’t use it to buy their dinner and pay at the supermarket. […] What it does is allows crooks to move money around.”
As CNBC pointed out, Bitcoin has repeatedly suffered deep bear-market crashes, falling at least 70% from peak levels in earlier cycles. In the current cycle, it was trading below $60,000 and roughly 52% below its October peak.
And that volatility is central to Grantham’s argument since he argues that Bitcoin can slowly lose relevance if buyers stop treating it as a reliable store of value.
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