Jim Rogers, a renowned investor expressed his views about cryptocurrency by saying “I have optimism for the future of crypto money.” He is cautious of central bank digital currencies and warns that the world is seeking anything to substitute or fight with the US dollar.
James Rogers is a Singapore-based American investor and financial analyst. He co-founded the Quantum Fund and Soros Fund Management. He also invented the Rogers International Commodities Index.
https://twitter.com/iamjimrogers/status/1315693800313028613
Renowned investor on Cryptocurrency and U.S. Dollar
In an interview published on 22th may by the Economic Times Markets, renowned investor Jim Rogers discussed his view on Cryptocurrency and the US dollar.
Despite the Federal Reserve and other central banks’ statements that they might begin with balance sheet normalization, Rogers emphasised that,
“Huge sums of money are still being printed all around the world. One must not believe them. They almost never speak the truth”.
The Federal Reserve of the United States has more than doubled its balance sheet in a relatively short period of time.
He said that as Russia launched its attack on Ukraine, the United States simply blocked Russia’s assets. Rogers advised,
“People don’t like that, and so many nations across the world are searching for anything to fight with the US currency.”
In response to an inquiry regarding if he holds bitcoin, the expert investor stated,
“I do not hold any bitcoin. I wish I had bought cryptocurrency when it was $1 instead of $5.”
I wish I had bought Bitcoin at $1: Jim Rogers I do not own any crypto currency. I wish I had bought Bitcoin at $1, at $5. I do not have great confidence in the future of government crypto currencies. I have optimism abou… #Market by #EconomicTimes https://t.co/a6C7doJjT9
— Market’s Cafe (@MarketsCafe) May 20, 2022
The co-founder of Quantum Fund then discussed central bank digital currencies (CBDCs),
“I do not have much faith in the future of government cryptocurrencies because all authorities are focusing on putting the money on the computers, it will be their wealth.”
Government won’t risk their dominance, Jim Rogers
Rogers has warned that governments might prohibit the use of Bitcoin and other cryptocurrencies. “If cryptocurrency becomes popular, most governments would restrict it because the government do not want to risk their dominance,” he said.
