Billionaire investor Jeremy Grantham says bitcoin will 'dwindle away with a whimper'
Billionaire investor and GMO co-founder Jeremy Grantham has renewed his criticism of Bitcoin. He describes the cryptocurrency as a useless speculative mechanism with no intrinsic value. Grantham forecasts that the asset will gradually fade into irrelevance over several decades rather than crashing suddenly.
What changed
Jeremy Grantham reiterated his long-standing skepticism of Bitcoin during a recent appearance on CNBC's Squawk Box.
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Jeremy Grantham Predicts Bitcoin Will Dwindle Away With a Whimper
confidence 100%Billionaire investor and GMO co-founder Jeremy Grantham has renewed his criticism of Bitcoin. He describes the cryptocurrency as a useless speculative mechanism with no intrinsic value. Grantham forecasts that the asset will gradually fade into irrelevance over several decades rather than crashing suddenly.
What's confirmed:
- Jeremy Grantham is the co-founder of the asset management firm GMO.
- Grantham stated that Bitcoin will dwindle away with a whimper.
- Grantham characterized cryptocurrency as a useless, speculative mechanism.
- The investor predicts Bitcoin will gradually fade into irrelevance over years and decades.
- Grantham claims Bitcoin has no practical use.
- The investor argues that Bitcoin lacks intrinsic value and fails as a payment method.
- Grantham asserts that Bitcoin primarily serves criminal money transfers.
Still unconfirmed:
- Bitcoin will slowly fade to zero.
- Bitcoin's fate is extinction.