Jeremy Grantham Critiques Bitcoin, Predicts Crypto Will Fade
Billionaire investor Jeremy Grantham expresses skepticism toward Bitcoin and the broader cryptocurrency market, describing it as a "useless, speculative mechanism". Grantham predicts that cryptocurrency will gradually decline without much notice, as reported by Decrypt.
Jeremy Grantham, co-founder of the investment firm GMO, has voiced strong skepticism about Bitcoin and other cryptocurrencies. During his appearance on CNBC's "Squawk Box," he labeled crypto as a "useless, speculative mechanism" and forecasted that it would eventually fade away "not with a bang, but with a whimper."
Grantham pointed to Bitcoin's recent volatility, stating it has dropped over 52% from its all-time high of $126,080, which was reached in October 2025. As of the latest reports, it trades around $60,529. He underscored this decline as indicative of Bitcoin's instability as a reliable store of value, especially in contrast to commodities like gold, which has seen a significant price increase.
Highlighting Bitcoin's perceived limitations, Grantham noted, "You can't depend on it in that way. People don't use it to make serious trades, they don’t use it to buy their dinner and pay at the supermarket." He framed Bitcoin as a tool that enables illicit transactions, describing it as "brilliant" in this capacity.
Despite his critical stance on Bitcoin, Grantham acknowledged the potential of blockchain technology to transform various sectors. His comments resonate with broader skepticism in the investment community regarding Bitcoin's effectiveness as a hedge or investment asset.
The skepticism towards Bitcoin isn't isolated; billionaire investor Mark Cuban has also expressed doubts about Bitcoin's capacity to serve as a hedge, noting its poor performance relative to gold. Recently, he revealed that he had sold most of his Bitcoin holdings due to these concerns.
Summary based on original reporting by Logan Hitchcock at Decrypt, originally published Jun 27, 2026. SolanaWire does not republish source content.
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