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Economy

Billionaire Investor Jeremy Grantham Predicts Bitcoin to Fade Gradually Over Decades

28 June 2026 · Source balance: Centre-right

Legendary investor Jeremy Grantham, co-founder of asset management firm GMO, has renewed his long-standing criticism of Bitcoin and cryptocurrency, calling it a useless speculative mechanism destined to gradually lose relevance. Speaking on CNBC's Squawk Box on Friday, Grantham predicted that Bitcoin will dwindle away slowly over years and decades rather than crash dramatically, comparing its eventual decline to a whimper rather than a bang. His critique focuses on three main arguments: Bitcoin has fallen 52 percent from its all-time high of 126,080 dollars set in October despite strong economic conditions, making it an unstable store of value compared to gold which gained significantly over the same period. Grantham also contends Bitcoin lacks practical real-world utility, noting people don't use it for daily transactions or serious business trades. He further argues its primary use is enabling illicit financial transfers. While acknowledging blockchain technology could have transformative potential, Grantham emphasized his criticism applies specifically to Bitcoin and cryptocurrencies, not the underlying technology.

Key facts

  • Grantham called Bitcoin a useless, speculative mechanism with no intrinsic value during a CNBC appearance June 26, 2026
  • Bitcoin fell 52 percent from its all-time high of 126,080 dollars set in October 2025 to approximately 60,000 dollars
  • Gold gained significantly and reached new all-time highs above 5,500 dollars during the same period Bitcoin declined
  • Grantham co-founded asset management firm GMO in 1977 and correctly predicted the dot-com crash of 2000 and housing crisis of 2008
  • Billionaire Ricardo Salinas Pliego maintains 80 percent of his portfolio in Bitcoin despite market decline, contrasting sharply with Grantham's position

How different outlets framed it

Right-leaning coverage: Crypto-friendly and right-leaning outlets point out that similar predictions have failed repeatedly since 2013, with over 400 previous declarations of Bitcoin's impending death. They highlight contrasting bullish positions from other major investors like billionaire Ricardo Salinas Pliego who allocates 80 percent of his portfolio to Bitcoin, and crypto industry leaders predicting Bitcoin could reach 500,000 to one million dollars by 2028.

Limits of this briefing

Search results were dominated by centrist financial outlets and crypto industry sources, with limited representation from traditional left-leaning mainstream news organizations. Grantham's track record includes both accurate bubble calls and bearish positions that cost investors gains when he was early or wrong on timing.

Sources

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