Famous Investor Jim Rogers Warns Governments They Want To Control Crypto – ‘They Want To Regulate Everything’ CryptoGlobe

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Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, has warned against cryptocurrency, saying that “if and when all our money is on our computer, it will be the money authorities”. However, he noted that his wife invests in crypto.

Crypto warning from Jim Rogers

Renowned investor Jim Rogers shared his views on cryptocurrency in an interview with Bloomberg, published last week. Rogers is the former business partner of George Soros who co-founded the Quantum Fund and Soros Fund Administration.

“A lot of people I know are investing in crypto and having fun and building wealth. Many have already disappeared and fallen to zero,” he began, specifying:

My wife is investing in crypto of all problems, but I’m not putting money into it because the bulls say they’re gonna be money, and my answer to that is, if and when all our money is on our computer, it’s going to be the authorities’ money.

Rogers explained that governments would not allow different currencies to compete with their currencies.

Pointing to his cell phone as an example of digital money, the veteran investor said, “When US authorities say, ‘Okay, that’s money now,’ and every authority is committed to crypto money, they’re not going to say, ‘That’s money, but if you want to use it [other] money, you should use that money. “

He pressed:

This is not the best way of thinking of bureaucrats. That’s not the best way politicians think. They need management. They want to regulate every part.

“In my opinion, in the event that they [cryptocurrencies] just buy and sell automobiles, nice, have fun. [But] I’m not going to trade, I don’t,” he concluded.

Rogers was asked if anything would change his ideas about investing in crypto. He admitted that if the issues change, he will even have to change. For example, “If out of the blue the euro is all crypto denominated, then I have to switch,” he said. Nonetheless, Rogers noted that he didn’t see it happening.

This wasn’t the first time the Quantum Fund co-founder has warned against governments coming after cryptocurrency. In April last year, he said governments could ban cryptocurrencies. “If cryptocurrencies become profitable, most governments will outlaw them because they don’t want to lose their monopoly,” Rogers pressed. He has also previously stated that “digital currencies beyond the influence of the federal government could be removed.”

Additionally, he warned last month that more bear markets were coming and the next could be “the worst” of his life. Noting that many stocks will drop 90%, he warned traders will lose a huge amount of money. He also predicted the top of the US greenback, fueled by the Russian-Ukrainian battle.

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Do you agree with Jim Rogers? Tell us in the comments section below.

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Kevin Helms

Austrian economics expert Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His activities focus on Bitcoin security, open-source techniques, community outcomes, and the intersection between economics and cryptography.

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