all about cryptop referances
Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, has warned about cryptocurrency, stating that “if and when all our money is on our computer, it’s going to be government money.” Nevertheless, he noted that his wife invests in crypto.
Famed investor Jim Rogers shared his views on cryptocurrency in an interview with Bloomberg, published last week. Rogers is George Soros’ former business partner who co-founded Quantum Fund and Soros Fund Management.
“A lot of people I know invest in crypto and have fun and make money. Many have already disappeared and gone to zero,” he began, elaborating:
My wife invests in crypto of all things but I don’t invest in them because the bulls say they’re going to be money and my answer to that is if and when all our money is on our computer it’s going to be government money.
Rogers went on to explain that governments will not allow other currencies to compete with their currencies.
Pointing to the phone as an example of electronic money, the veteran investor said: “When the US government says ‘okay, this is money now,’ and every government is working with cryptocurrency, they’re not going to say, ‘This is money, but if you will use it [other] money, you can use that money.'”
He emphasized:
That’s not how bureaucrats think. That is not how the politicians think. They want control. They want to regulate everything.
“In my view, if they [cryptocurrencies] are just commercial vehicles, fine, have it. [But] I’m not going to switch, I’m not,” he concluded.
Rogers was asked if anything would change his mind about investing in crypto. He admitted that if things change, he will have to change too. For example, “If suddenly the entire euro is denominated in crypto, then I have to switch,” he said. However, Rogers noted that he doesn’t see that happening.
This wasn’t the first time the Quantum Fund co-founder warned about governments coming after cryptocurrency. Last April, he said governments could ban cryptocurrencies. “If cryptocurrencies become successful, most governments will ban them, because they don’t want to lose their monopoly,” Rogers stressed. He has also previously said, “virtual currencies outside of government influence will be eliminated.”
In addition, he warned last month that more bear markets are coming, and that the next one will be “the worst” of his lifetime. Noting that many stocks will drop 90%, he warned that investors will lose a lot of money. He also predicted the end of the US dollar, fueled by the war between Russia and Ukraine.
Do you agree with Jim Rogers? Let us know in the comments section below.
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