Grantham Predicts Slow Disappearance of Bitcoin Due to Lack of Value

Jeremy Grantham, co-founder of GMO and a veteran investor known for predicting market bubbles, has expressed skepticism about Bitcoin's long-term viability. In an interview with CNBC, he stated that the cryptocurrency will 'slowly disappear' due to its lack of intrinsic value and practical use.

Grantham argued that Bitcoin is too volatile to serve as a stable store of value, citing its price drop during economic expansion. He contrasted this with gold, which maintained an upward trend despite falling from its all-time high in the same timeframe.

The veteran investor emphasized that Bitcoin's primary function seems to be helping criminals move money across borders anonymously. Grantham also pointed out that individuals do not use Bitcoin for everyday activities such as buying dinner or paying for groceries.