Legendary investor Jeremy Grantham — co-founder of asset management firm GMO and one of Wall Street’s most prominent bubble-spotters — came at Bitcoin again on Friday, calling the asset a “useless, speculative mechanism” Slowly slipping into irrelevance, the Internet is destined to fade away.
CNBC’s “Speaking on CNBC” Squawk BoxGrantham has predicted the Bitcoin to be a success. “dwindle away, I suspect — not with a bang, but a whimper.” The following is a list of the most popular ways to get in touch with someone. said He has never held Bitcoin, and believes that it will eventually fall to zero. Not through an abrupt crash, but by a gradual erosion in interest over many years.
“All Bitcoin does is allow fraudsters to move money around,” He said.
Grantham said that Bitcoin’s volatility was evidence of its inability to be a safe store. The coin “halved for no particular reason in a strong economy,” he noted — a critique with fresh teeth given where Bitcoin stands today.
He added that gold has seen solid gains during the same time period.
Grantham may be right. There has been a severe selloff. BTC reached a new high near 126,000 dollars in October 2025 In the time since, BTC has lost more than 50% in value. BTC has been trading around $60,000 since Friday. Analysts had predicted that BTC would be in this range. consider a critical support zone This could be a way to reach the $40k range if it is broken.
Bitcoin fell toward $62,000 In mid-June, hawkish Federal Reserve signals roiled the risk markets. Rising U.S.–Iran geopolitical tensions sent oil prices higher and reignited inflation fears, pushing Fed officials to abandon any talk of rate cuts — with some floating the possibility of rate hikes. U.S. BTC ETFs saw net outflows amounting to around $113.8 million for the past four days.
Bitcoins’ attempt to recover higher ground was met by its 200 day moving average. It served as hard opposition and caused a drop of roughly 30% from this ceiling. Current drawdown is among the 5th worst in Bitcoin’s history — territory that tests the resolve of long-term holders. There are some institutional investors, but. are treating the dip Coinbase reported that institutions of major importance have purchased the crash.
A new billionaire invests in bitcoin
Ricardo Salinas Pliego, a Mexican billionaire on the other side. has placed 70% of his investment portfolio into BTC — up from just 10% in 2020 — and has even convinced his wife to mortgage their home to buy more.
Bitcoin, he believes, is better than cash and gold due to its borderlessness and unseizability.
The conviction of his has lasted through a 150 million dollar loan scam, regulatory opposition to Banco Azteca Mexico becoming the first Bitcoin-accepting Bank, as well as multiple market cycles.
He recently pointed to a decade of London property prices as proof of his thesis — a home that cost 4,000 BTC in 2016 now costs fewer than 30 — and urges ordinary investors to convert their home equity into BTC exposure, calling it “an asymmetrical bet to the upside.”
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Source: bitcoinmagazine.com
