Jeremy Grantham, co-founder of investment firm GMO, has renewed his long-standing criticism of bitcoin, predicting the digital asset will gradually fade into irrelevance over the coming decades.
The billionaire investor argued that the cryptocurrency lacks fundamental value and will eventually "dwindle away with a whimper" rather than collapsing in a sudden crash.
Grantham’s comments arrive as bitcoin faces renewed selling pressure, having slipped below the $60,000 threshold.
Grantham’s comments arrive as bitcoin faces renewed selling pressure, having slipped below the $60,000 threshold.
The breach marks the asset’s lowest level in 20 months, driven by a broad-based sell-off in global technology stocks that has spilled over into digital assets.
The loss of this key psychological support level signals weakening momentum for the world’s largest cryptocurrency.
The GMO co-founder, known for his contrarian market views and early warnings on asset bubbles, maintains that bitcoin’s price is disconnected from any underlying economic utility.