Veteran Investor Jim Rogers Is Bullish About The Future Of Cryptocurrency – Bitcoin News

Renowned investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, says he is “optimistic about the future of cryptocurrency.” However, he is skeptical of central bank digital currencies and warned that the world is looking for something to replace or compete with the US dollar.

Jim Rogers on Bitcoin, Crypto and US Dollar

Veteran investor Jim Rogers shared his outlook for the cryptocurrency and the US dollar in an interview published Sunday by the Economic Times Markets. Rogers is the former business partner of George Soros who co-founded the Quantum Fund and Soros Fund Management.

Although the Fed and other central banks have said they will begin to normalize, Rogers pointed out, “There are still gigantic amounts of money printed all over the world.” He issued the following opinion:

Don’t listen to these guys. They rarely tell the truth… The US Fed has more than doubled its balance sheet in a very short time.

He added: “Even if they reduce for a while, it won’t be enough to compensate for the gigantic money printing that is taking place.”

Commenting on the future outlook for the US dollar, Rogers said: “I hate to say it, but the United States is the largest debtor country in the history of the world and the world is looking for something to replace it or compete with the dollar.”

He explained that after Russia started its invasion of Ukraine, the United States just blocked Russia’s assets. Reiterating that “America just took the money from the Russians,” Rogers warned:

Well, people don’t like that and so many countries around the world…are looking for something to compete with the US dollar.

Rogers also discussed cryptocurrency during the interview. Responding to a question asking if he owned bitcoin, the seasoned investor revealed:

I don’t own any cryptocurrency. I would have liked to buy bitcoin at $1, at $5.

The Quantum Fund co-founder then talked about central bank digital currencies (CBDCs). He said, “I don’t have great faith in the future of government cryptocurrencies that all governments are working on putting money on the computer. It will be their money.

Roger continued:

I’m optimistic about the future of cryptocurrency, but not government cryptocurrency.

However, he cautioned: “Governments don’t like competition. They like to keep their monopoly.

Rogers previously warned that governments could ban BTC and all other cryptocurrencies. “If cryptocurrencies are successful, most governments will outlaw them because they don’t want to lose their monopoly,” he said.

What do you think of Jim Rogers’ comments? Let us know in the comments section below.

Kevin Helms

An economics student from Austria, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

Image credits: Shutterstock, Pixabay, Wiki Commons

Warning: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.