In an interview with CNBC, Jeremy Grantham, co-founder of asset management firm GMO, delivered a starkly bearish outlook on Bitcoin. He stated that Bitcoin will eventually 'dwindle away with a whimper' rather than experiencing a dramatic crash. 'It will fade away, not with a bang, but with a whimper,' Grantham said.
Grantham described Bitcoin as a 'useless and speculative' asset, arguing that it lacks intrinsic value and has no practical utility—noting that people do not use it for everyday purchases. He also highlighted that Bitcoin has historically suffered declines of at least 70% from its highs in each cycle. Currently, Bitcoin is down roughly 52% from its peak in October last year.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.