Grantham Says Bitcoin Could Dwindle Away as Token Sits 52% Below October Peak

1 articles · Updated · CNBC · Jun 26

Jeremy Grantham said bitcoin could fade into irrelevance over decades, arguing on CNBC that the token is a speculative asset that will disappear "not with a bang, but a whimper."
The GMO co-founder tied that view to bitcoin's lack of intrinsic value, saying it has not proved useful for payments or serious trading and cannot serve as a dependable store of value.
Bitcoin's volatility is central to his case: he noted it recently halved in a strong economy, and the token has fallen at least 70% from peak levels in every prior bear-market cycle.
At under $60,000 and about 52% below its October high, bitcoin is already in a prolonged slump that many investors expect could last several more months.