BlockBeats News, June 27th, according to CNBC, billionaire investor and GMO co-founder Jeremy Grantham once again criticized Bitcoin, calling it a "worthless speculative" asset with no intrinsic value, and he expects it to gradually become irrelevant over the next few years or even decades. Grantham stated: "It will fade away gradually, not with a bang, but with a whimper." He argued that Bitcoin is not a stable store of value, as it can be halved for no clear reason even in a robust economic environment, and therefore cannot be relied upon as a value storage tool.

Grantham also noted that during the same period, gold, despite retracing from its peak, still showed a robust increase. He believes that Bitcoin has not proven itself as a useful speculative asset and has not provided real-world utility. He stated that people will not use Bitcoin for serious transactions or to pay for dinner or groceries, saying, "Its use is to move money for criminals."

Bitcoin has always been known for its sharp bear market retracements, with each cycle seeing a drop of at least 70% from its peak. Currently, Bitcoin is down about 52% from its October high, hovering around $60,000, and many investors believe that the current price slump may continue for several months.