Jeremy Grantham, a famous investment strategist, claimed that all markets, including the crypto market, are in a huge bubble that is ready to burst. According to the veteran investor, the increase in the crypto market over the past few years indicates that a market bubble that is ready to burst is nearing its end. Grantham adds that even Fed intervention cannot fix the situation. Here are the details
According to senior investor Jeremy Grantham, crypto can never be trusted
According to Jeremy Grantham, the entire market, from bonds, real estate, stocks and commodities to the cryptocurrency market, is in a bubble that is about to burst. Grantham, co-founder and chief investment strategist at Grantham, Mayo & van Otterloo (GMO), a Boston-based asset management firm, stated this in a recent report.
According to the famous British investor, crypto itself does not inspire any confidence. Grantham goes a little further and recommends that investors avoid the crypto market entirely if possible.
Additionally, Grantham predicts US markets are ripe for the biggest crash ever recorded. Among the reasons he cites for the bleak market outlook are what he calls “frantic investor behavior”, which has led to the frenetic buying of meme-based stocks, meme coins and NFTs that have led to huge increases in their prices. He also points out that the February 2021 drop in the value of speculative stocks is evidence of this “super bubble”.
According to the famous strategist, nothing will save the market from collapse, not even the intervention of the Federal Reserve Bank.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.