06/03/2021

Noted investor Jim Rogers, who co-founded the Quantum Fund with billionaire George Soros, now regrets not buying Bitcoin. However, he remains concerned that governments could ban Bitcoin if it becomes a viable currency.
Jim Rogers Bitcoin Regret
Jim Rogers said in an interview with Real Vision this week that he had wanted to buy Bitcoin years ago. Rogers is a former business partner of George Soros and co-founder of the Quantum Foundation and Soros Foundation Management.
He thinks bonds are in a bubble and expects gold and silver prices to rise. As for Bitcoin, he said:
I wish I had bought Bitcoin. I should note that many cryptocurrencies have already disappeared and dropped to zero. We all hear about Bitcoin. We don’t hear about the dozens that no longer exist.
The price of bitcoin has risen about 54% this year, 612% since the beginning of last year and 1,152% since the beginning of 2019. At the time of writing, the price of BTC stands at $46,577, with a market cap of $871 billion, according to data from market.Bitcoin.com.
Price TableBTC encryption in a few years. Source: markets.Bitcoin.com
Jim Rogers warns government against banning cryptocurrency
However, Rogers still believes that governments will not allow cryptocurrents to flourish if they are accepted as a currency. Last June, a seasoned investor warned that governments would stop using cryptocurrency and discussed using Bitcoin as a currency.
He was quoted in an interview with Real Vision this week:
If Bitcoin ever becomes a viable currency instead of a trading tool, they can ban it. Governments don’t want to lose control. They love their monopoly position. Do you think they’re going to say, okay, here are the U.S. dollars, and they’re on the computer, but if you want to use something else, can you? In fact, this is not my experience with governments in history.
Max Keiser, a popular television personality and Bitcoin supporter, predicted that when the price of BTC reaches $50,000, Rogers will be interested in all things Bitcoin, just like Mark Cuban of Shark Tank and Peter Schiff’s Golden Bug.
Although Rogers now regrets his decision not to invest in Bitcoin earlier, Schiff still maintains that the cryptocurrency’s value could fall to zero. However, he acknowledged that it could also be as high as $100,000. Rogers is also uncertain about the US dollar. Last September, he predicted the end of the dollar’s dominance.
Rogers isn’t the only one who warned that governments could stop the cryptocurrency. Harvard professor Kenneth Rogoff has repeatedly stated that governments and central banks will never allow Bitcoin to become widespread, and he believes they will win. Dan Nathan, founder of Risk Reversal Advisors, said the U.S. government will not continue to allow companies like Elon Musk’s Tesla to replace dollars on their balance sheets with bitcoin.
Another investor who has strongly warned regulators against cryptocurrency is Shark Tank star Kevin O’Leary, aka Mr. Wonderful. Adults will cry when that happens. You will not see such a loss of capital in your lifetime. It will be cruel, he said. However, it changed its mind after approving two bitcoin exchange traded funds (ETFs) in Canada. O’Leary is now an investor in Bitcoin and thinks cryptocurrents are here to stay.
What do you think of Jim Rogers’ expression of regret and warning? Let us know in the comment section below.
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