Respected investor, Jim Rogers, who started Quantum Fund together with George Soros, says he is optimistic about a positive crypto future. However, he expressed skepticism about central bank digital currencies, and warned they are aimed at competing with or replacing the U.S. dollar.
Jim Rogers Gives His Take on Bitcoin, Crypto, and USD
Jim Rogers, one of the renowned veteran investors, has shared his view on cryptos and the U.S. dollar in an interview that was published by the Economic Times Markets Sunday. Rogers is a former business partner with George Soros, who co-founded the Quantum Fund and Soros Fund Management.
Even with the FED and most central banks across the globe indicating they would start normalizing, Rogers was quick to indicate the gigantic amount of money they print every year. “One should not listen to these guys. They rarely tell the truth … The U.S. Fed has more than doubled their balance sheet in the very short period of time,” added Rogers.
He continued to say that even if they cut a little bit for some time; making up for the large levels of money printing that have been going on for years will not be easy. Rogers also said that following the Russia invasion of Ukraine, the United States simply blocked the Russian assets. “America just took the Russian money away,” Rogers emphasized.
On cryptocurrencies, Rogers pointed out that he does not own cryptocurrencies. He was, however, regretful that he never bought Bitcoin when it was USD 1-5.
On the subject of central bank digital currencies (CBDC), Rogers said he does not have confidence in them. “I have optimism about the future of crypto money but not government crypto money,”
He clarified that governments do not like competition and will always work hard to keep their monopoly. Previously, Rogers had warned that the government could ban cryptos. “If cryptocurrencies become successful, most governments will outlaw them because they don’t want to lose their monopoly,” he said.
