- Billionaire investor Jeremy Grantham forecasts Bitcoin will slowly disappear over decades.
- Grantham, co-founder of GMO, labels Bitcoin a 'useless, speculative' asset lacking intrinsic value.
- He highlights Bitcoin's volatility, noting its 52% drop from its October peak, hovering below $60,000 as of June 26, 2026.
Billionaire investor Jeremy Grantham, co-founder of investment firm GMO, on June 26, 2026, declared that Bitcoin will 'dwindle away with a whimper' over the coming decades. His renewed criticism of the world's largest cryptocurrency underscores a persistent negative Bitcoin investor sentiment among some traditional finance figures. Grantham, a well-known market commentator, believes Bitcoin is a 'useless, speculative' asset. No intrinsic value. No practical utility. His comments arrive as Bitcoin experienced a downturn, sitting approximately 52% off its October peak, trading below the $60,000 mark at the time of his statement.
Grantham's deep distrust towards digital assets remains firm. He emphasized Bitcoin's instability as a store of value. He pointed out its recent halving 'for no particular reason in a strong economy'—making it unreliable. This volatility challenges the narrative of Bitcoin as a hedge against inflation or economic uncertainty. Many investors grapple with such drastic price swings. Some see Bitcoin’s Volatility: A Strategic Opportunity to Buy Bitcoin? while others like Grantham remain unconvinced.
Grantham's Critique on Bitcoin's Utility and Stability
Jeremy Grantham's arguments extend beyond just price fluctuations. He questions Bitcoin's real-world utility. 'People don't use it to make serious trades, they don't use it to buy their dinner and pay at the supermarket,' Grantham said on CNBC's 'Squawk Box.' Instead, he suggested its primary function is to 'allow crooks to move money around.' This perspective directly contradicts the vision of many cryptocurrency proponents who advocate for Bitcoin as a future global currency or a decentralized payment rail. His remarks show a deep divide in how different financial sectors perceive digital assets. The seasoned investor also contrasted Bitcoin with gold (a truly stable asset), noting that gold has delivered solid gains even after market pullbacks, unlike Bitcoin's erratic performance.
Bitcoin's historical performance includes dramatic bear market crashes. It has fallen at least 70% from its peak in every cycle. Grantham's remarks come at a time when many analysts believe the current price slump could extend for several more months. This extended bearish sentiment fuels debates about the long-term viability of Bitcoin as an investment vehicle. Grantham’s firm, GMO, is known for its research into asset bubbles. He has consistently warned about excessive speculation in various markets, including the dot-com bubble and the 2008 housing crisis. His warnings about Bitcoin align with his broader investment philosophy. He prioritizes assets with clear inherent worth and stable cash flows. Simple.
The Broader Bitcoin Investor Outlook and Market Impact
The billionaire's comments contribute to an ongoing discussion about the future of cryptocurrencies. While institutions like MicroStrategy have heavily invested in Bitcoin, as seen in Michael Saylor's Bitcoin Strategy Under Pressure as MSTR Stock Dips Below $90, others maintain a cautious or outright negative stance. Grantham's assertion that Bitcoin lacks real-world application and primarily serves illicit activities is a common criticism leveled by skeptics. This perspective often overlooks the growing adoption of Bitcoin and other cryptocurrencies for legitimate transactions, remittances, and as a store of value. Many countries face hyperinflation. They use crypto.
Despite Grantham's gloomy prediction, the cryptocurrency market continues to evolve rapidly. New use cases for blockchain technology emerge regularly, and institutional interest in digital assets is increasing. It's a complex picture. The debate over Bitcoin's ultimate destiny remains, though. Grantham envisions a slow, quiet decline rather than a sudden collapse. The Bitcoin investor outlook continues to be a point of contention among financial experts. Only future market dynamics and technological advancements will ultimately determine Bitcoin's fate. Will it fade? Or solidify its place in the global financial system?