Key points from a prominent investor indicate a belief that Bitcoin will not experience a dramatic collapse but will instead gradually fade into obscurity over many years, failing to serve as a reliable store of value.

Over the years, Bitcoin has faced criticism for its severe bear market crashes, with each cycle seeing its price fall at least 70% from its peak.

Jeremy Grantham, the billionaire investor and co-founder of GMO, has reiterated his long-standing negative view on cryptocurrencies, forecasting that Bitcoin will gradually become marginalized over decades and ultimately become irrelevant.

Known for his market analysis and accurate predictions of various asset bubbles, Grantham stated in a recent financial broadcast that Bitcoin is an asset with "no use, purely speculative" and possesses no intrinsic value. He also noted that Bitcoin has not demonstrated superior returns during bull markets and questioned its practical utility.

"I think it will gradually disappear over the years, over the decades, not with a bang, but with a whimper. It is not a stable store of value — it can halve for no reason even when the economy is doing well, so you can't rely on it," he said.

He added that gold, by comparison, has delivered solid returns even after retreating from its all-time highs.

Grantham believes Bitcoin is neither a reliable speculative vehicle nor does it have any practical application in real-world scenarios.

"No one uses it for major commercial transactions, no one uses it to buy groceries or pay at the supermarket... The only use for Bitcoin is to facilitate the movement of money for criminals," he remarked.

Bitcoin has experienced multiple severe bear market plunges over the years, with each market cycle seeing its price drop no less than 70% from its peak. Currently, Bitcoin's price is down approximately 52% from its October high of last year, hovering below $60,000, with many investors believing this period of low prices is likely to persist for several more months.