Jim Rogers, a Popular investor who co-founded Quantum Fund alongside billionaire George Soros has warned about cryptocurrency. He stated that “if all our money is on the computer, it will be government money.”
In an interview with Bloomberg published last week, Jim Rogers, a well-known investor, shared his views on cryptocurrency. Rogers was George Soros’ ex-business partner and co-founded Quantum Fund Management and Soros Fund Management.
“Many people I know invest in crypto, having fun and making money. He continued, expounding: “Many have already disappeared and gone to zero.”
My wife is an investor in crypto, but I do not invest in them. The bulls claim they are going to make money. And my answer is that if all of our money is on our computers, it will be government money.
Rogers explained that governments won’t allow foreign currencies to compete against theirs.
The veteran investor pointed to his phone to illustrate electronic money. ‘”
This is not how bureaucrats think. This is not how politicians think. They want to control. They want control over everything.
“I believe that cryptocurrencies are trading vehicles and should be used accordingly. He concluded, “But I’m no trader. I’m not doing it.”
Rogers was asked whether anything would change his opinion about crypto investing. Rogers admitted that things can change and that he would have to adjust if they do. He said, for example, “If suddenly, the euro is all denominated crypto, then well, I have to change.” Rogers said that he does not see this happening.
The Quantum Fund cofounder, Jim Rogers, warned that governments could pursue cryptocurrency. He stated that governments could ban cryptocurrency in April of last year. Rogers stated that cryptocurrencies will be successful and most governments will ban them because they don’t want to lose control of their monopoly. Rogers also stated that “virtual currencies will be extinguished by the government,”
He also warned that more bear market were coming and that the next one would be “the worst” he has ever seen. He warned that investors would lose a lot of their money, noting that stocks could fall 90%. He predicted that the U.S. dollar would end due to the Russia-Ukraine conflict.