Cryptocurrency analyst Michaël van de Poppe slammed on Monday billionaire investor Jeremy Grantham’s prediction that Bitcoin (CRYPTO: BTC) will “certainly” go to zero.
‘Ridiculous’ Statement
Van De Poppe deemed the remark as “stupid,” noting it was unexpected from a “great” investor.
The analyst rued that many great men have failed to grasp Bitcoin’s fundamentals and purpose. and they sound “ridiculous” making such statements.
Grantham Advises Against Buying Crypto
The comment in question was made during “The Diary Of A CEO” podcast dated June 25, when podcaster Steven Bartlett asked Grantham whether he sees Bitcoin going to zero.
“In the distant future, yes, it will certainly go to zero. But it may take a long time,” said the co-founder of investment firm GMO.
Grantham described cryptocurrencies as an “unnecessary piece of nonsense” that “facilitates nothing except criminals moving money so they can’t be seen.
He said he has never owned any cryptocurrency and would never recommend anyone buy it.
As of this writing, a website called Bitcoindeaths.com has tracked 475 Bitcoin obituaries, including those by economists Nouriel Roubini and Peter Schiff, as well as business magnates Warren Buffett and Jamie Dimon.
The veteran market strategist is renowned for accurately calling major asset bubbles, including the dot-com mania of the late 1990s and the 2008 global housing and financial crisis.
Price Action: At the time of writing, BTC was exchanging hands at $59,355.06, down 0.87% in the last 24 hours, according to data from Benzinga Pro.
Recent Comments