Billionaire investor Jeremy Grantham on crypto: A useless, speculative mechanism
Jeremy Grantham, GMO co-founder and long-term investment strategist, joins ‘Squawk Box’ to discuss the latest market trends, state of the economy, we’re in a bubble and how to know when it will burst, state of the AI boom, SpaceX IPO, his thoughts on bitcoin, and more.
24 Comments
Jeremy Granthan if Bitcoin is bubble, then why has the bubble grown larger and larger every 4 years (like clockwork) for the last 15 years? Additionally, Bitcoin is an impeccable record against the US dollar, Warren Buffett, Charlie Monger, Jamie Dimon, and every other person who keeps saying Bitcoin is dead whenever it goes into a bear market. In fact, let's be brutally honest these smart men understand that Bitcoin will go up indefinitely, because it has all the same properties (and better) than gold. They just talk negatively about it, because they only like investments that received a stamp of approval by the traditional finance world. Sorry boys, that game is over.
Why Joe grilling this old high blood pressure guy 😂😂😂
His veins will be blast 😂😂😂
Unreal segment, Joe K flamed JG and called out the permabear. Classic case of casing your whole argument on past performance on value and never understanding the whole investing environment has completely changed since 2000.
What is wrong with Joe???
looks like bullrun will start soon!
Wind and solar are not green, and certainly not renewable.
Fare interview. The old guy made statements he couldn't backup.
Unc just got cooked by joe… drinking with two hands 1:02 … idk if he understands blockchain, let alone AI.
Debby downer go back to your bear cave. I’ll buy the dip for you.
Joe Kernan needs to go. How disrespectful was this.
Crazy that you used to be able to become a billionaire without understanding thermodynamics or accounting.
Another rich, old white man telling everyone he doesn't know anything about Bitcoin. This may be the only example of someone who doesn't need an asset like Bitcoin to make a living. He did say that his handling of the family fund was wrecked 5 years ago by being too much into the green tech agenda push hard by Democrats. Blames it on Trump. What a joke, Trump wasn't in office 5 years ago and the green new deal was an agenda crammed down everyone's throat by those in office virtue signaling for votes. Technology will get us to green if we need it. There is no need to rush it. Again, an old rich white man who's change in values would never benefit him. Like all the rest, he'll be dead soon.
5:00 Question: "Were you ever bullish on the stock market?"
Answer: "Ugggghhhh 🤤"
This guy looks like he's about to start drooling, maybe time to go back into the retirement home.
joe is awesome
Joe getting ridiculously defensive about his BTC stack… he should be fired for being unprofessional and disrespecting their guest.
Yo Joe Kernen is RUDE AF talk with respect to a 90yo person
Yes Joe!
Proof of unnecessary work nailed it. Wasting energy to mine this crap. Certainly possible it could be a transactional standard down the road. To be a standard of stored value, at a minimum a major reserve currency central bank needs to adopt it as a reserve asset. Until that happens its a bet and TBD. And if it doesn't happen, holders now will be big time bagholders.
😂😂 this guy has been wrong on so many predictions. He always paints a gloom and doom picture for everything. If he was correct …the world would be in a depression right now. Not sure why CNBC would give him air time. He’s a grumpy irrelevant pile of trash that should be playing shuffleboard instead of wasting our time.
When this guy talked, the market usually has been down about 5% and made the bottom, and it always went up 25 – 500% in the next several months and years.
Sorkin is such a weasle.
Jeremy is right all bubbles eventually pop, what he is wrong about is timing….no one can do that. Joe is right if you listened to him since the GFC you would have missed out on one of the greatest bull market ever. Just ride it till you can’t anymore. 🤷🏻♂️
Greentech
vsBitcoin = HopevsTrumpTHIS RICH GEEZER IS HAVING A HARD TIME REBOOTING.
I love Joe trying to debate, on bitcoin. A ton of heavy hitters are saying bitcoin is trash, and he is trying to say those legends are wrong. These guys handle Billions of dollars, what does Joe do??????? Buffet thinks Bitcoin is a scam, so Joe knows money better than Buffet??? People have made tons of money throughout history in bubbles (scam bubbles) that doesn’t change the fact that they where scam bubbles.