Renowned investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, says he is “optimistic about the future of cryptocurrencies.” However, he is skeptical of central bank digital currencies and warns that the world is looking for alternatives or competitors to the U.S. dollar.
Jim Rogers on Bitcoin, crypto, and the U.S. dollar
Veteran investor Jim Rogers discussed his outlook on cryptocurrencies and the US dollar in an interview published by the Economic Times Market Sunday. Rogers is a former business partner of George Soros, who co-founded the Quantum Fund and Soros Fund Management.
Despite the Fed’s and other central banks’ stated intentions to begin normalization, Rogers stressed that “there is still a huge amount of paper money being printed around the world.” He opined.
Do not listen to these people. They seldom tell the truth … The US Fed has more than doubled its balance sheet in a very short time.
He added, “Even if they cut back for a while, it will not be enough to make up for the huge money printing that has been going on.” He stated.
Regarding the future outlook for the U.S. dollar, Rogers said, ” I hate to say it, but the U.S. is the largest debtor in world history, and the world is looking for something to replace it or compete with the dollar.”
He explained that the US only blocked Russian assets after Russia began its invasion of Ukraine. Repeatedly, Rogers warned, “The U.S. just took Russian money away.
Well, people don’t like it, so many countries in the world are …… looking for something to counter the U.S. dollar.
Mr. Rogers also mentioned cryptocurrencies in his interview. In response to a question about whether he owns bitcoin, the veteran investor revealed.
I don’t own cryptocurrency; I wish I had bought bitcoin for $1 or $5.
The co-founder of Quantum Fund went on to talk about Central Bank Digital Currency (CBDC). He opined that ” I don’t have great confidence in the future of government cryptocurrencies with all the governments working on putting money in computers. It will be their money.”
I am optimistic about the future of cryptocurrencies, but not government cryptocurrencies.
But he cautioned.” Governments don’t like competition. They like to maintain their monopoly.”
Rogers previously warned that governments could banBTCand all other cryptocurrencies.” If cryptocurrencies are successful, most governments will outlaw them because they don’t want to lose their monopoly.” He said.
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