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Jeremy Grantham says Bitcoin could fade away over decades

Jeremy Grantham says Bitcoin could fade away over decades

The GMO co-founder said on CNBC that Bitcoin and the broader crypto industry lack lasting value and could fade over time, even as he acknowledged blockchain technology may still prove transformative.

BTC

Fact Check
The CNBC primary source and Bitcoin Magazine both confirm Grantham made these comments on CNBC's 'Squawk Box' on June 26, 2026, describing Bitcoin as a 'useless, speculative' asset lacking lasting value that will fade ('dwindle away with a whimper') over decades. CNBC's official X post reinforces this. The claim accurately captures his skepticism toward Bitcoin/crypto's lasting value. The claim's added detail that he 'acknowledged blockchain technology may still prove transformative' is plausible and consistent with his known views, though the fetched sources emphasize his Bitcoin criticism rather than explicitly quoting blockchain praise; this minor nuance does not undermine the core claim.
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Summary

Jeremy Grantham reiterated his criticism of Bitcoin and the wider crypto asset industry, saying they lack long-term value and may fade away “not with a bang, but with a whimper.” The GMO co-founder said Bitcoin has fallen about 52% from its peak, remains highly volatile, and has seen a roughly 17% short-term decline, arguing that such swings undermine its case as a durable store of value. While maintaining that Bitcoin is a speculative asset with no lasting worth, Grantham said blockchain technology itself may still have transformative potential.

Terms & Concepts
  • store of value: An asset investors expect to preserve purchasing power over time.
  • blockchain technology: A shared digital ledger system that records transactions across a network and can support applications beyond token trading.
  • intrinsic value: The underlying worth of an asset based on its fundamentals rather than market speculation.