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Billionaire Jeremy Grantham Dismisses Bitcoin, Says Crypto Will Fade 'With a Whimper'

Billionaire investor and GMO co-founder Jeremy Grantham has renewed his criticism of Bitcoin. He describes the asset as a useless speculative mechanism that lacks intrinsic utility. Grantham predicts the cryptocurrency will gradually lose relevance over decades.

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Jeremy Grantham issued new warnings on CNBC regarding the long-term irrelevance of Bitcoin.

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  1. Jeremy Grantham Predicts Bitcoin Will Dwindle Away With a Whimper

    Billionaire investor and GMO co-founder Jeremy Grantham has renewed his criticism of Bitcoin. He describes the asset as a useless speculative mechanism that lacks intrinsic utility. Grantham predicts the cryptocurrency will gradually lose relevance over decades.

    What's confirmed:

    • Jeremy Grantham is the co-founder of GMO.
    • Grantham described crypto as a "useless, speculative mechanism".
    • Grantham predicts Bitcoin will "dwindle away with a whimper".
    • The investor claims Bitcoin is an unreliable store of value and lacks intrinsic utility.
    • Grantham previously called the 2000 dot-com crash and the 2008 housing collapse.

    Still unconfirmed:

    • Bitcoin will "certainly go to zero".
    • Bitcoin's 52% drop from its all-time high proves it is an unreliable store of value.
    confidence 90%