Investor Jeremy Grantham predicts Bitcoin will fade into irrelevance

Veteran investor Jeremy Grantham, co‑founder of GMO, reiterated his long‑standing criticism of Bitcoin during a CNBC interview. He described the cryptocurrency as a speculative asset with no intrinsic value, unsuitable as a stable store of wealth or a medium of everyday exchange. Grantham said Bitcoin’s price volatility, despite a robust economy, proves its unreliability and that it will gradually lose significance over the coming decades, eventually becoming irrelevant. He contrasted this with gold, which he said continues to generate solid gains and remains a reliable store of value.

Grantham’s comments came amid a heated exchange with CNBC anchor Joe Kernen, who challenged Grantham’s track record on market timing. Grantham noted Bitcoin has fallen about 40% over the past year and cited past cycles where the digital currency dropped sharply from its peaks. He reaffirmed his view that Bitcoin will not survive the next bear market, while emphasizing gold’s continued performance.