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51 Bitcoin Drops Again. Skeptical Investment Strategist Calls It 'Useless'

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EditorDavid @ Slashdot 1 place · today 04:00 EDT

Bitcoin Drops Again. Skeptical Investment Strategist Calls It 'Useless'

Friday Bitcoin closed at just $59,948 — dropping 19% just for June and more than 50% lower than its record high in October of $124,310.

To commemorate the occasion CNBC interviewed long-time bitcoin skeptic Jeremy Grantham, reporting that the 87-year-old cofounder/chief investment strategist of the massive asset-management firm GMO is "predicting it will gradually fade into irrelevance over decades."

[The] longtime market commentator known for his calls on asset bubbles said bitcoin is a "useless, specul

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