Veteran Investor Jim Rogers Optimistic About Way forward for Crypto Cash – Bitcoin Information
Renowned investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, says he has “optimism about the future of crypto money.” However, he is skeptical of central bank digital currencies and warned that the world is looking for something to replace or compete with the US dollar.
Jim Rogers on Bitcoin, Crypto, and US Dollars
Veteran investor Jim Rogers shared his outlook for cryptocurrency and the US dollar in an interview published by the Economic Times Markets Sunday. Rogers is George Soros’ former business partner who co-founded the Quantum Fund and Soros Fund Management.
Despite the Fed and other central banks stating that they would start normalizing, Rogers stressed, “There are still gigantic amounts of money printing all over the world.” Hey opined:
One should not listen to these guys. They seldom tell the truth… The US Fed has more than doubled their balance sheet in the very short period of time.
He added: “Even if they cut back for a while, it is not going to be enough to make up for the gigantic money printing that has been going on.”
Commenting on the future outlook for the US dollar, Rogers said: “I do not like saying it but the US is the largest debtor nation in world history and the world is looking for something to replace it or compete with the dollar.”
He explained that after Russia began its invasion of Ukraine, the US just blocked Russia’s assets. Reiterating that “America just took the Russian’s money away,” Rogers warned:
Well, people do not like that and so many countries in the world … are looking for something to compete with the US dollar.
Rogers also discussed cryptocurrency during the interview. Replying to a question about whether he owns any bitcoin, the veteran investor revealed:
I do not own any cryptocurrency. I wish I had bought bitcoin at $1, at $5.
The Quantum Fund co-founder proceeded to talk about central bank digital currencies (CBDCs). He opined: “I do not have great confidence in the future of government cryptocurrencies that all the governments are working on putting money on the computer. It will be their money.”
I have optimism about the future of crypto money but not government crypto money.
However, he cautioned: “Governments do not like competition. They like to keep their monopoly.”
Rogers previously warned that governments could ban BTC and all other cryptocurrencies. “If cryptocurrencies become successful, most governments will outlaw them, because they don’t want to lose their monopoly,” he said.
What do you think about Jim Rogers’ comments? Let us know in the comments section below.
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.
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