The famous investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, now regrets not buying Bitcoin. However, he is still worried that if Bitcoin becomes a viable currency, the government will ban Bitcoin.
Jim Rogers’ Bitcoin regret
In an interview with Real Vision this week, Jim Rogers stated that he wished he had bought Bitcoin a few years ago. Rogers is a former business partner of George Soros and the co-founder of Quantum Fund and Soros Fund Management.
He believes that bonds are in a bubble and expects the prices of gold and silver to soar. As for Bitcoin, he said:
I hope I have bought Bitcoin. I will point out that many cryptocurrencies have disappeared and become zero. We have all heard of Bitcoin. We have not heard of dozens of things that do not exist.
The price of Bitcoin has soared by about 54% this year, has soared by 612% since the beginning of last year, and has soared by 1152% since the beginning of 2019. Since the beginning of this year, the price of Bitcoin has repeatedly broken through previous historical highs, when the price of Bitcoin was $46,577. According to data from Markets.Bitcoin.com, its market value reached $871 billion.
Jim Rogers warns that the government may ban the use of cryptocurrencies
However, Rogers still maintains a mindset that if cryptocurrency succeeds as a currency, the government will not let it prosper. In June last year, news.Bitcoin.com reported that the veteran investor warned that governments would stop using cryptocurrencies when discussing the use of Bitcoin as a currency.
In this week’s Real Vision interview, he was quoted as:
If Bitcoin has ever become a viable currency, rather than a trading tool, then they can ban it. The government does not want to lose control. They like monopolies. Do you think they will say, “Okay, it’s dollars, and it’s on the computer, but if you want to use something else, you can”? In fact, this is not my experience with the government at any time in history.
Popular TV personality and Bitcoin supporter Max Keizer predicts that when the BTC price reaches $50K, Rogers will all bet on Bitcoin, as will Mark Cuban of Shark Tank and Peter Schiff of the gold bug.
Although Rogers now regrets his earlier decision not to invest in Bitcoin, Schiff still insists that the value of cryptocurrencies may drop to zero. Nevertheless, he also admitted that it can also reach $100,000. Rogers also has no confidence in the dollar. In September last year, he predicted that the dollar would end its dominance.
Rogers is not the only one warning the government to stop cryptocurrency. Harvard University professor Kenneth Rogoff has stated many times that the government and central bank will never allow Bitcoin to become mainstream, and he believes that Bitcoin will win. Dan Nathan, the founder of Risk Reversal Advisor, stated that the U.S. government will not continue to allow companies like Elon Musk’s Tesla to use Bitcoin instead of U.S. dollars on their balance sheets. .
Another investor who strongly warned regulators to crack down on cryptocurrencies is Shark Tank star Kevin O’Leary, also known as Mr. Wonderful. “Adult men will cry. You will never see the loss of capital like in life again. It will be cruel,” he said. However, after two Bitcoin exchange-traded funds (ETFs) in Canada were approved, he changed his mind. O’Leary is now a Bitcoin investor and he believes that cryptocurrencies will continue to exist.
What do you think of Jim Rogers’ Bitcoin regrets and warnings? Let us know in the comments section below.
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