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Billionaire Jim Rogers Warns Governments Can Control Cryptocurrencies

Veteran investor Jim Rogers, who co-founded Quantum Fund with billionaire investor George Soros, is issuing a warning to investors that crypto assets could one day be completely controlled by governments.
Billionaire Jim Rogers Warns Governments Can Control CryptocurrenciesBillionaire Jim Rogers Warns Governments Can Control Cryptocurrencies
Billionaire Jim Rogers Warns Governments Can Control Cryptocurrencies 3

In a new interview with Bloomberg Crypto, Jim Rogers said that one-day digital currencies will become “government money,” meaning that officials and politicians will take control and command how to use them.

Rogers said that he knows a lot of people who are currently investing in cryptocurrencies and are happy to make money from them. However, there were also many people who were empty-handed.

“My wife invests in crypto of all things, but I don’t invest in them because the bulls say they’re going to be money, and my answer to that is, if and when all our money is on our computer, it’s going to be government money.”

Jim Rogers went on to explain that governments would not allow other currencies to compete with their own. There will come a day when the US government says that crypto is money now.

“That’s not the way bureaucrats think. That’s not the way politicians think. They want control. They want to regulate everything.”

Billionaire Jim Rogers Warns Governments Can Control Cryptocurrencies 4

The billionaire was asked if anything would change his mind about investing in crypto. He admitted that if things change then he will also have to change. For example, “If suddenly the euro is all denominated in crypto, well then I have to change,” he said. However, Rogers noted that he doesn’t see it happening.

This is not the first time the Quantum Fund co-founder has warned about governments taking control of cryptocurrencies. In April last year, he said governments could ban cryptocurrencies.

In addition, Jim Rogers also warned last month that more bear markets are coming and that the next bear market will be “the worst” of his life.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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