The well-known investor Jeremy Grantham – Co-founder of the asset management firm GMO and one of Wall Street’s famous bubble-spotters – came to Bitcoin again on Friday, calling the economy “nonsense, it’s a fantasy” that is slowly shrinking into irrelevance.
Speaking on CNBC’s Squawk boxGrantham predicted that Bitcoin will “decline, I suspect – not with noise, but noise.” He he said he has never owned Bitcoin and believes it will fall to zero, not because of a sudden crash but because of the erosion of interest over years and years.
“All Bitcoin does is allow fraudsters to move money,” he said.
Grantham pointed to Bitcoin’s volatility as evidence against its role as a store of value. The currency “halved for no reason in a strong economy,” he said – a criticism that has new teeth for what Bitcoin represents today.
Gold, he added, has delivered solid gains over the same period.
Maybe Grantham is right, the selloff has been difficult. BTC hit an all-time high nearby $ 126,000 in October 2025. Since then, the digital economy has lost more than 50% of its value. As of Friday, BTC has traded above $60,000, testing what analysts are predicting consider the supporting role needed that, if broken, could open the way to $40,000s.
Bitcoin it dropped to $62,000 in mid-June when hawkish signals from the Federal Reserve rattled the risk markets. Escalating US-Iranian political tensions sent oil prices higher and renewed fears of a price hike, forcing Fed officials to drop any talk of rate cuts — and other floats that could raise prices. US spot BTC ETFs posted four consecutive days of outflows totaling approximately $113.8 million.
Bitcoin’s attempt to retake the high ground went straight to the 200-day moving average, which acted as a strong resistance and dropped almost 30% from that level. The damage is still there it ranks as the 5th worst in Bitcoin history – a section that tests the determination of long-term holders. Some institutional buyers, however, treating dip as an entry point, and Coinbase reports that major institutions have entered to buy damage.
Another multi-billionaire big bet on bitcoin
On the front, Mexican billionaire Ricardo Salinas Pliego you have put 70% of his investment in BTC – up from just 10% in 2020 – and he has convinced his wife to mortgage their house to buy more.
The founder of Grupo Salinas expresses his skepticism of fiat money in Nixon’s family discussions about the end of gold, and he considers Bitcoin superior to all currencies and gold because it is invisible and limitless.
His faith has survived a $150 million loan scam, a push back on his plan to create Mexico’s first Banco Azteca Bitcoin bank, and multiple stock market cycles.
He recently cited ten years of London property prices as proof of his views – a house that cost 4,000 BTC in 2016 now costs less than 30 – and encourages ordinary investors to turn their house money into BTC exposure, calling it “an asymmetrical bet on the upside.”
