Veteran Investor Jim Rogers on Crypto: Bitcoin Unlikely to Become Money, Governments Favor CBDCs

Must Read
Please note: Most, if not all, of the articles published at this website were completed by Chat GPT ( and/or copied and possibly remixed from other websites or Feedzy or WPeMatico or RSS Aggregrator or WP RSS Aggregrator. No copyright infringement is intended. If there are any copyright issues, please contact:

In a new interview, Jim Rogers, who helms Rogers Holdings Inc. and was a co-creator of the Quantum Fund alongside George Soros in the 1970s, shared his observation of “various signs that something is going to go wrong soon” within the U.S. economy, predicting an impending recession. Additionally, Rogers discussed the leading crypto asset bitcoin, emphasizing his skepticism towards cryptocurrencies evolving into actual money. He underscored that should they pose a real challenge to traditional fiat currencies, governments will not tolerate it.

Renowned Investor Jim Rogers Expects a Recession – ‘I’m Afraid I See the Signs’

On Feb. 1, 2024, Jim Rogers engaged in an interview with Michelle Makori, the lead anchor and chief editor at Kitco News, delving into discussions on the U.S. economy, particular investment strategies, and briefly addressing bitcoin (BTC). Rogers shared with Makori his anticipation of a market slump, despite U.S. equities reaching peak levels unprecedented in recent years. He firmly believes the forthcoming decline will surpass any he has witnessed throughout his life.

“In 2008, we had a big problem, but the debt everywhere has skyrocketed since then,” Roger said. “So the next recession has to be the worst in my lifetime because the debt is so much higher now than it has ever been before in my lifetime. Even China has a lot of debt now.”

Rogers explained to Makori that the greenback has recently been in disarray, with many still viewing cash, particularly U.S. dollars, as a refuge. He further stressed:

The U.S. dollar is not a sound currency anymore. We’re the largest debtor nation in the history of the world. But everybody thinks it’s a sound currency, and they think it’s a safe haven. So when problems come, people race to a safe haven.

Bitcoin Does Not Pose a Threat to Government Currency – ‘It’s Just a Trading Vehicle’

In the second part of their conversation, Makori queried Rogers on his views regarding bitcoin, especially after the U.S. Securities and Exchange Commission (SEC) green-lit a significant number of spot bitcoin exchange-traded funds (ETFs), recalling his earlier assertion that governments would ban bitcoin. “Well … my point just to clarify, is that I don’t see cryptocurrencies becoming money because the governments do not want that competition,” Rogers emphasized.

The business mogul added:

I don’t think it’s a legitimate currency anywhere, except maybe in El Salvador, but El Salvador only has six million people, so I don’t think that’s going to change the world. I don’t own any cryptocurrencies. I never have, I’m not short any, I’ve never been short any [cryptocurrencies]. I mean I wish I’d bought it when it was a dollar, I wish I’d bought IBM in 1914, I wish a lot of things you know, looking back in history.

However, Rogers maintained that should crypto assets pose real threats to governments, they will not stand for it. “That’s not the way Washington or London or other places work,” Rogers quipped. To date, cryptocurrencies such as bitcoin (BTC) do not pose a “threat” to state-issued currency, in Rogers’ view, being merely a “trading vehicle.” As Rogers’ interview concluded, Makori inquired about his stance on central bank digital currencies (CBDCs), to which he emphasized that governments, naturally, are very fond of the concept.

“I fully expect that eventually, currencies are going to be on the computer,” Rogers explained. “It’s much more efficient, it’s cheaper, it’s better for many people, and governments love it because as you point out they know everything you do. They’ll call you up one day and say ‘Michelle you’ve been drinking too much coffee this month, don’t drink so much coffee anymore … They’ll know everything you do, they’ll know everything we do, governments love that, I don’t particularly like it, I think it’s horrible. But governments have the guns. I don’t have any guns. So they will do what they want and I suspect and it should happen that currency money will be on the computer someday.”

The chairman of Rogers Holdings continued:

It’s not good for you and me, but it’s certainly good for the governments.

What are your thoughts on Jim Rogers’ perspectives regarding bitcoin and central bank digital currencies (CBDCs)? Share your thoughts and opinions about this subject in the comments section below.

Latest Articles

Mike Tyson joins boxing blockchain project

Boxing legend Mike Tyson has partnered with the blockchain venture for boxers Prepared To Battle. In accordance with a press...

More Articles Like This