Renowned 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.” However, he’s skeptical of central financial institution digital currencies and warned that the world is on the lookout for one thing to exchange or compete with the U.S. greenback.
Jim Rogers on Bitcoin, Crypto, and U.S. Dollar
Veteran investor Jim Rogers shared his outlook for cryptocurrency and the U.S. greenback in an interview printed by the Economic Times Markets Sunday. Rogers is George Soros’ former enterprise associate who co-founded the Quantum Fund and Soros Fund Management.
Despite the Fed and different central banks stating that they’d begin normalizing, Rogers pressured, “There are nonetheless gigantic quantities of cash printing all around the world.” He opined:
One shouldn’t pay attention to those guys. They hardly ever inform the reality … The U.S. Fed has greater than doubled their steadiness sheet within the very quick time frame.
He added: “Even in the event that they reduce for some time, it’s not going to be sufficient to make up for the large cash printing that has been occurring.”
Commenting on the long run 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 on the lookout for one thing to exchange it or compete with the greenback.”
He defined that after Russia started its invasion of Ukraine, the U.S. simply blocked Russia’s property. Reiterating that “America simply took the Russian’s cash away,” Rogers warned:
Well, individuals don’t like that and so many nations on the planet … are on the lookout 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 don’t have nice confidence in the way forward for authorities cryptocurrencies that every one the governments are engaged on placing cash on the pc. It can be their cash.”
I’ve optimism about the way forward for crypto cash however not authorities crypto cash.
However, he cautioned: “Governments don’t like competitors. They prefer to hold their monopoly.”
Rogers previously warned that governments might ban BTC and all different cryptocurrencies. “If cryptocurrencies grow to be profitable, most governments will outlaw them, as a result of they don’t wish to lose their monopoly,” he mentioned.
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