Billionaire Jeremy Grantham Claims Bitcoin Survives Solely on Pure Speculation

According to the veteran investor, Bitcoin's ecosystem lacks true macroeconomic foundations.

Grantham argues that the premier cryptocurrency cannot fulfill basic monetary roles, stating that its primary utility remains limited to speculative price trading, despite acknowledging blockchain’s structural benefits.

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JUST IN: 🇹🇼 Taiwan passes new crypto law introducing licensing requirements for crypto firms, stablecoin reserve requirements, and penalties for market manipulation.

UPDATE: 🇪🇺 EU's MiCA crypto regulation takes full effect today.

More than 240 firms have already received MiCA authorization across the EEA, with OKX leading in the number of approved services.

🎌 Speculators have increased short positions in the yen to near-record levels, according to CFTC data. The Bank of Japan promises action.

JUST IN: Robinhood launches the Robinhood Chain mainnet, introducing 24/7 tokenized stock trading.

We are literally the last Generation to know what life was like before the Internet

JUST IN: Bitcoin reclaims $60,500.

JUST IN: Standard Chartered and Circle offer institutional clients integrated access to mint and redeem USDC.

JUST IN: New Hampshire registers bill protecting the right to use digital assets for payments and self-custody.

JUST IN: 🇺🇸 US Treasury officially releases dollar bills bearing President Trump's signature.

UPDATE: 🇺🇸 Elon Musk-led DOGE Service has officially expired after completing its 18-month mandate on July 4.

JUST IN: Michael Saylor hints at Strategy buying more Bitcoin.

JUST IN: Michael Saylor's Strategy sold 3,588 Bitcoin for about $216 million.

"I said to you never sell your Bitcoin. I never said that the company wouldn't sell its Bitcoin."

JUST IN: 🇬🇧 UK Labour MPs are pushing to permanently ban crypto political donations.

JUST IN: 🇺🇸 President Trump says he will not sign the Housing Bill in protest of the Senate's failure to pass the SAVE AMERICA Act.

NEW: Bloomberg ETF analyst Eric Balchunas says more than 500 ETF applications are now pending before the SEC.

NEW: 🇧🇷 Brazil launches Operation Veil of Maya, targeting a crypto-linked money laundering network that allegedly used 87 shell companies.

JUST IN: Elon Musk's SpaceXAI launches Grok 4.5 for coding and AI agents.