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GMO co-founder believes that Bitcoin is a 'useless and speculative' asset that will quietly and gradually disappear. He believes that Bitcoin will not collapse suddenly but will gradually lose its value. The reason is that Bitcoin lacks intrinsic value and practical utility, and is not used to pay for daily expenses.
Bitcoin has significantly lost value in the past, with a decline of at least 70% from its peak in each cycle. Currently, Bitcoin is down about 52% from its peak last October. The GMO co-founder believes that Bitcoin will continue to lose value and gradually disappear. This shows a lack of confidence in the future of Bitcoin from some financial experts.