Famend investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, now regrets not shopping for bitcoin. Nonetheless, he’s nonetheless fearful that governments can outlaw bitcoin if it turns into a viable foreign money.
Jim Rogers’ Bitcoin Remorse
Jim Rogers stated in an interview with Actual Imaginative and prescient this week that he wished he had purchased bitcoin years in the past. Rogers is George Soros’ former enterprise accomplice and the co-founder of the Quantum Fund and Soros Fund Administration.
He believes that bonds are in a bubble and expects the costs of gold and silver to skyrocket. As for bitcoin, he stated:
I want I had purchased bitcoin. I’ll level out that many cryptocurrencies have already disappeared and gone to zero. All of us hear about bitcoin. We don’t hear concerning the dozens that don’t exist anymore.
The worth of bitcoin has surged about 54% this yr, 612% because the starting of final yr, and 1,152% because the begin of 2019. Surpassing earlier all-time highs a number of instances this yr, the BTC worth is presently $46,577 on the time of writing with a market capitalization of $871 billion, primarily based on information from markets.Bitcoin.com.
Jim Rogers Warns Authorities Could Outlaw Cryptocurrencies
Nonetheless, Rogers remains to be within the mindset that governments won’t let cryptocurrency flourish if it succeeds as a foreign money. In June final yr, information.Bitcoin.com reported that the veteran investor warned that governments will stop cryptocurrency whereas discussing bitcoin getting used as cash.
Throughout his interview with Actual Imaginative and prescient this week, he was quoted as saying:
If bitcoin ever turns into a viable foreign money as an alternative of a buying and selling car, they’ll outlaw it. Governments don’t wish to lose management. They like their monopoly. Do you assume they’re going to say, ‘OK, listed below are US {dollars}, they usually’re on the pc, however if you wish to use one thing else, you may’? That’s really not my expertise with governments at any time in historical past.
Common tv persona and bitcoin proponent Max Keiser has predicted that when the BTC worth reaches $50K, Rogers will go all-in on bitcoin, as will Shark Tank’s Mark Cuban and gold bug Peter Schiff.
Whereas Rogers is now regretting his resolution to not spend money on bitcoin earlier, Schiff nonetheless insists that the worth of the cryptocurrency may fall to zero. Nonetheless, he has admitted that it will possibly additionally attain $100K. Rogers can also be not assured within the U.S. greenback. In September final yr, he predicted the top of the dollar dominance.
Rogers will not be the one one that has warned about governments stopping cryptocurrency. Harvard Professor Kenneth Rogoff has repeatedly stated that governments and central banks will never allow bitcoin to go mainstream and he thinks they will win. Dan Nathan, the founding father of Danger Reversal Advisors, said that the U.S. authorities won’t hold permitting firms like Elon Musk’s Tesla to switch the {dollars} of their stability sheets with bitcoin.
One other investor who strongly warned about regulators coming down arduous on cryptocurrencies is Shark Tank star Kevin O’Leary, aka Mr. Great. “Grown males are going to weep when that occurs. You’ll by no means see a lack of capital like that ever in your life. Will probably be brutal,” he said. Nonetheless, he modified his thoughts after the approval of two bitcoin exchange-traded funds (ETFs) in Canada. O’Leary is now a bitcoin investor and believes that cryptocurrencies are here to stay.
What do you consider Jim Rogers’ bitcoin remorse and warning? Tell us within the feedback part under.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It’s not a direct supply or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, immediately or not directly, for any harm or loss brought on or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.
