Investor who called last two major market crashes says bitcoin is a bubble

Noted investor Jeremy Grantham, who called the last two major market bubbles, said bitcoin is a bubble that may crash soon.

“This is a true, crazy mini-bubble of its own I expect,” Grantham, co-founder of Boston-based investment management firm GMO, said in a Wednesday letter to clients.

“Historical analogy suggests this junior bubble, by size, may well crash and burn even before the broad market peaks,” he said.

Grantham predicted the market downturns in 2007 and 2000, and now expects stocks will see their final leg higher in the next six to 24 months.

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