Jim Rogers Regrets Not Buying Bitcoin but Warns Governments May Outlaw Cryptocurrencies

Jim Rogers Regrets Not Shopping for Bitcoin however Warns Governments Might Outlaw Cryptocurrencies – Regulation Bitcoin Information

Famend investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, now regrets not shopping for bitcoin. Nevertheless, he’s nonetheless fearful that governments can outlaw bitcoin if it turns into a viable forex.

Jim Rogers’ Bitcoin Remorse

Jim Rogers mentioned in an interview with Actual Imaginative and prescient this week that he wished he had purchased bitcoin years in the past. Rogers is George Soros’ former enterprise accomplice and the co-founder of the Quantum Fund and Soros Fund Administration.

He believes that bonds are in a bubble and expects the costs of gold and silver to skyrocket. As for bitcoin, he mentioned:

I want I had purchased bitcoin. I’ll level out that many cryptocurrencies have already disappeared and gone to zero. All of us hear about bitcoin. We don’t hear in regards to the dozens that don’t exist anymore.

The worth of bitcoin has surged about 54% this yr, 612% for the reason that starting of final yr, and 1,152% for the reason that begin of 2019. Surpassing earlier all-time highs a number of occasions this yr, the BTC value is at the moment $46,577 on the time of writing with a market capitalization of $871 billion, based mostly on knowledge from markets.Bitcoin.com.

Jim Rogers Regrets Not Buying Bitcoin but Warns Governments May Outlaw Cryptocurrencies
BTC’s value chart over a number of years. Supply: markets.Bitcoin.com

Jim Rogers Warns Authorities Might Outlaw Cryptocurrencies

Nevertheless, Rogers remains to be within the mindset that governments won’t let cryptocurrency flourish if it succeeds as a forex. In June final yr, information.Bitcoin.com reported that the veteran investor warned that governments will cease cryptocurrency whereas discussing bitcoin getting used as cash.

Throughout his interview with Actual Imaginative and prescient this week, he was quoted as saying:

If bitcoin ever turns into a viable forex as an alternative of a buying and selling automobile, they will outlaw it. Governments don’t need to lose management. They like their monopoly. Do you suppose they’re going to say, ‘OK, listed here are US {dollars}, and so they’re on the pc, however if you wish to use one thing else, you may’? That’s truly not my expertise with governments at any time in historical past.

Fashionable tv persona and bitcoin proponent Max Keiser has predicted that when the BTC value reaches $50Okay, Rogers will go all-in on bitcoin, as will Shark Tank’s Mark Cuban and gold bug Peter Schiff.

Whereas Rogers is now regretting his resolution to not spend money on bitcoin earlier, Schiff nonetheless insists that the worth of the cryptocurrency might fall to zero. Nonetheless, he has admitted that it may additionally attain $100Okay. Rogers can be not assured within the U.S. greenback. In September final yr, he predicted the top of the greenback dominance.

Rogers is just not the one one who has warned about governments stopping cryptocurrency. Harvard Professor Kenneth Rogoff has repeatedly mentioned that governments and central banks won’t ever permit bitcoin to go mainstream and he thinks they are going to win. Dan Nathan, the founding father of Danger Reversal Advisors, mentioned that the U.S. authorities won’t hold permitting firms like Elon Musk’s Tesla to interchange the {dollars} of their steadiness sheets with bitcoin.

One other investor who strongly warned about regulators coming down arduous on cryptocurrencies is Shark Tank star Kevin O’Leary, aka Mr. Great. “Grown males are going to weep when that occurs. You’ll by no means see a lack of capital like that ever in your life. It is going to be brutal,” he mentioned. Nevertheless, he modified his thoughts after the approval of two bitcoin exchange-traded funds (ETFs) in Canada. O’Leary is now a bitcoin investor and believes that cryptocurrencies are right here to remain.

What do you concentrate on Jim Rogers’ bitcoin remorse and warning? Tell us within the feedback part under.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It isn’t a direct provide or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, instantly or not directly, for any harm or loss brought on or alleged to be brought on by or in reference to using or reliance on any content material, items or companies talked about on this article.