“I’m very skeptical about cryptocurrencies, I don’t expect them to last, it’s been great for some people now, not for me, but I don’t see any long-term value in cryptocurrencies,” said Jim Rogers at the India Today Conclave 2024 event last week.
Despite the significant growth in the price of Bitcoin (BTC) that marked a new all-time high of almost $74,000, before retreating shortly after, the renowned investor and financial commentator Jim Rogers continues to be skeptical about cryptocurrencies and especially about the Bitcoin.
Jim Rogers is a former business partner of George Soros and co-founder of Quantum Fund and Soros Fund Management. Furthermore, the investor indicated that he has more confidence in “real things” assets than in a cryptocurrency like Bitcoin.
“I know rice will always have value, it always has, but I don’t know if Bitcoin will always have value.” Jim Rogers stated. “Bitcoin will disappear and go to zero one day,” he added.
Rogers noted that the value of commodities like sugar will never disappear or lose all their value in the market like cryptocurrencies.
«I may be wrong, maybe I should sell all my gold and silver and buy Bitcoins. However, as far as I can see, most people in the world understand gold and silver, but most do not understand Bitcoin,” Rogers said.
On the other hand, popular investor Jim Rogers, who has a net worth of more than $300 million, confirmed during the event that he does not own BTC or any other cryptocurrency.
Jim Rogers Warns about the Possible Disappearance of the US Dollar and Recommends Buying Gold and Silver
Adding to his strong skepticism about the cryptocurrency, Jim Rogers also warned last year about the possible “disappearance of the US dollar.” This is because countries are exploring new “alternative reserve currencies” that decentralize the current economy.
“Inflation is going to get worse, the debt problems are going to get worse, and the United States is going to suffer,” Jim Rogers said last year on Sputnik News’ “New Rules” podcast. “The value of the US dollar will lose more and more value as the United States prints more, it always happens this way,” he added.
When asked what he would buy, gold, silver or Bitcoins, Rogers responded that he has never bought or sold Bitcoin, arguing that he has a lot of gold and silver as a safe haven.
“In my opinion, cryptocurrencies are apparently good business vehicles, but I hope they all disappear one day, many of them have already disappeared,” said Rogers.
On the other hand, Jim Rogers also said that even though gold is at an all-time high, everyone should own something. According to the investor, even though silver has dropped 50% from its all-time high, it continues to represent an important asset.
“I own both gold and silver, but if I were buying today, I would buy silver,” Rogers said.
For many years Jim Rogers has been a strong skeptic of the crypto market and digital assets of all kinds. For reference, during 2021, Rogers said that he “would not buy Bitcoins because governments could ban cryptocurrencies.”
Furthermore, also in 2022, the popular investor pointed out that governments seek to control and regulate the entire crypto space, and therefore cryptocurrencies “do not represent a good investment.”
By Leonardo Perez
