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Legendary investor again bearish on Bitcoin? Grantham: Crypto will “dissolve with a sigh” 📉

GMO founder Jeremy Grantham hit the air again on CNBC on 6/26 to blast Bitcoin, calling it “worthless,” having no dividends and not being money. He predicts that cryptocurrencies will “dissolve with a sigh” rather than crash within the next few decades. He compares it to gold, saying that’s the real safe-haven tool.🥇

But doesn’t this sound familiar? Grantham has been calling BTC “destined for zero” for years—so what happened? Bitcoin didn’t disappear; it even survived several 50%+ pullbacks. Even the CNBC host on site couldn’t help asking him back 😅

Current update: BTC is now around $59,860, down over 30% year-to-date. It has broken below the 20-month moving average (~$80K) and the 50-month moving average (~$65.6K), so near-term pressure is significant. But the 100-month moving average (~$40.3K) is still underneath, providing support. Over the past 10 days, ETF outflows have totaled about $29.7 billion—market liquidity is indeed relatively chilly.

Celebrity bearishness doesn’t mean Bitcoin is finished, but the short-term price action definitely needs watching. What do you think? 💬

#BTC #Bitcoin #GMO #Crypto