Famend investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, says he has “optimism about the way forward for crypto cash.” Nevertheless, he’s skeptical of central financial institution digital currencies and warned that the world is searching for one thing to interchange or compete with the U.S. greenback.
Jim Rogers on Bitcoin, Crypto, and U.S. Greenback
Veteran investor Jim Rogers shared his outlook for cryptocurrency and the U.S. greenback in an interview printed by the Financial Occasions Markets Sunday. Rogers is George Soros’ former enterprise accomplice who co-founded the Quantum Fund and Soros Fund Administration.
Regardless of the Fed and different central banks stating that they might begin normalizing, Rogers harassed, “There are nonetheless gigantic quantities of cash printing all around the world.” He opined:
One shouldn’t hear to those guys. They not often inform the reality … The U.S. Fed has greater than doubled their stability sheet within the very brief time frame.
He added: “Even when they in the reduction of for some time, it isn’t going to be sufficient to make up for the big cash printing that has been happening.”
Commenting on the longer term outlook for the U.S. greenback, Rogers mentioned: “I don’t like saying it however the U.S. is the most important debtor nation in world historical past and the world is searching for one thing to interchange it or compete with the greenback.”
He defined that after Russia started its invasion of Ukraine, the U.S. simply blocked Russia’s belongings. Reiterating that “America simply took the Russian’s cash away,” Rogers warned:
Effectively, individuals don’t like that and so many international locations on this planet … are searching for one thing to compete with the U.S. greenback.
Rogers additionally mentioned cryptocurrency throughout the interview. Replying to a query about whether or not he owns any bitcoin, the veteran investor revealed:
I don’t personal any cryptocurrency. I want I had purchased bitcoin at $1, at $5.
The Quantum Fund co-founder proceeded to speak about central financial institution digital currencies (CBDCs). He opined: “I wouldn’t have nice confidence in the way forward for authorities cryptocurrencies that each one the governments are engaged on placing cash on the pc. It is going to be their cash.”
I’ve optimism about the way forward for crypto cash however not authorities crypto cash.
Nevertheless, he cautioned: “Governments don’t like competitors. They wish to hold their monopoly.”
Rogers beforehand warned that governments may ban BTC and all different cryptocurrencies. “If cryptocurrencies develop into profitable, most governments will outlaw them, as a result of they don’t wish to lose their monopoly,” he mentioned.
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