Home Cryptocurrency News Jim Rogers Regrets Not Buying Bitcoin but Warns Governments May Outlaw Cryptocurrencies – Regulation Bitcoin News

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

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

Jim Rogers’ Bitcoin Remorse

Jim Rogers stated 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 stated:

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 concerning the dozens that don’t exist anymore.

The worth of bitcoin has surged about 54% this 12 months, 612% because the starting of final 12 months, and 1,152% because the begin of 2019. Surpassing earlier all-time highs a number of instances this 12 months, the BTC worth is presently $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 worth chart over a number of years. Supply: markets.Bitcoin.com

Jim Rogers Warns Authorities Might Outlaw Cryptocurrencies

Nonetheless, Rogers continues to be within the mindset that governments won’t let cryptocurrency flourish if it succeeds as a forex. In June final 12 months, information.Bitcoin.com reported that the veteran investor warned that governments will stop 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’ll 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 possibly can’? That’s truly not my expertise with governments at any time in historical past.

Fashionable tv character and bitcoin proponent Max Keiser has predicted that when the BTC worth reaches $50K, 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 may fall to zero. Nonetheless, he has admitted that it will probably additionally attain $100K. Rogers can be not assured within the U.S. greenback. In September final 12 months, he predicted the tip of the dollar dominance.

Rogers shouldn’t be the one one that has warned about governments stopping cryptocurrency. Harvard Professor Kenneth Rogoff has repeatedly stated that governments and central banks will never allow bitcoin to go mainstream and he thinks they will win. Dan Nathan, the founding father of Danger Reversal Advisors, said that the U.S. authorities won’t maintain permitting firms like Elon Musk’s Tesla to exchange the {dollars} of their steadiness sheets with bitcoin.

One other investor who strongly warned about regulators coming down laborious 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 said. Nonetheless, 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 here to stay.

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

Picture Credit: Shutterstock, Pixabay, Wiki Commons

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