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- Grantham calls Bitcoin speculative as Davis defends its fixed supply and independence.
- Bitcoin trades near $60,000 as ETF outflows and Fed signals keep pressure on sentiment.
- Garlinghouse backs Bitcoin long-term but questions Strategy’s capital-raising model.
Investor Jeremy Grantham renewed his criticism of Bitcoin, calling it a speculative asset without intrinsic value. His remarks on CNBC drew a response from crypto investor Lark Davis, who defended Bitcoin as money beyond government and central-bank control systems.
Grantham, co-founder of GMO, made the comments on CNBC’s Squawk Box. He questioned the asset’s long-term stability after its recent decline. He said investors still turn to gold when they want lasting value.
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Davis Defends Bitcoin as Market Pressure Builds
In a post on X, Davis rejected that view and said Bitcoin’s fixed supply gives it a role that traditional currencies cannot match. He argued that no central bank can control its issuance or weaken it through money printing.
The comments highlighted a divide between traditional investors and crypto supporters. Grantham sees Bitcoin as a risky trade with limited use. Davis sees it as a monetary network operating outside political control.
Bitcoin trades near $60,000 on Saturday, down from its October 2025 high near $126,000. Traders watched a key support area as selling pressure continued. A break below that zone could raise concern over a move toward $40,000.
Several market factors added pressure. Hawkish signals from the Federal Reserve, United States-Iran tensions, and investor selling weighed on sentiment. Spot Bitcoin exchange-traded funds recorded four straight days of net outflows worth about $113.8 million.
Institutional Buyers Step In as Bitcoin Pressure Continues
Institutional buyers still stepped in during the pullback. Coinbase said large investors bought aggressively as prices weakened. However, Bitcoin failed to recover its 200-day moving average, which kept technical pressure on the market.
Grantham also linked Bitcoin’s use to criminal activity. He said the asset can help move money outside traditional channels. His comments added to criticism from investors who prefer regulated assets and gold.
Support for Bitcoin remained visible among high-profile investors. Mexican billionaire Ricardo Salinas Pliego said he has placed 70% of his portfolio in the cryptocurrency. He said Bitcoin offers protection because governments cannot seize it.
Garlinghouse Criticizes Strategy’s Bitcoin Funding Plan
Ripple CEO Brad Garlinghouse said he remains optimistic about Bitcoin’s outlook. However, he criticized Michael Saylor’s Strategy approach. He said raising capital to buy more Bitcoin does not automatically create lasting value.
Garlinghouse pointed to Strategy’s STRC preferred shares as an example of market doubt. The shares were trading about 25% below their intended price. He said that gap showed weaker confidence in the firm’s funding method.
The debate comes as Bitcoin faces market stress and strong public market defense. Critics still question its value, stability, and practical use. Supporters argue its supply limit and independence remain central to its long-term investment case.
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