economy
Billionaire investor Jeremy Grantham says bitcoin will 'dwindle away with a whimper'
Jeremy Grantham renewed his long-running criticism of bitcoin, predicting it will gradually fade into irrelevance over decades.
TL;DR
- Jeremy Grantham predicts bitcoin will gradually fade into irrelevance over decades.
- He describes bitcoin as a useless, speculative asset without intrinsic value.
- Grantham questions bitcoin's practical use and its inability to outperform in a bull market.
- He notes bitcoin's instability as a store of value, highlighting its recent significant price drop.
- Compared to bitcoin, gold has delivered solid gains over the same period.
- Grantham believes bitcoin is primarily used by criminals to move money.
- Bitcoin has historically experienced dramatic bear market crashes, with prices falling at least 70% from their peak in each cycle.