The investment expert, who said Bitcoin was already in the bubble in 2017, recently suggested that all cryptocurrencies would eventually disappear.
In an interview with Asahi AERA on June 19, investor Jim Rogers said that the cryptocurrency, including Bitcoin (BTC), “will eventually decrease and everything will be reset.”
“Those who use cryptocurrency think they are smarter than their powers,” Rogers told AERA Dot. “Actually, I think they are right. But their authorities have something that the cryptocurrencies do not have. This is a weapon. The reason I think the cryptocurrency will disappear over time is because it is not based on the government’s armed forces.”
There is a certain unjustified relationship between the rise and fall of cryptocurrency prices and the strengthening of authoritarian powers. When Donald Trump ordered the forced separation of peaceful protesters near the White House on June 1, the price of bitcoin increased by more than 8%.
Crypto is just a cash game.
Cointelegraph announced in November 2017 that Rogers said that BTC “looks and smells” like a bubble. This was before the cryptocurrency reached its highest level ever – more than $ 20,000 in December 2017.
“[…] cryptocurrency has not been around for several years, but since then it has become 100 and 1,000 times more valuable. This is a clear bubble, and I don’t know the right price. The virtual currency is not an investment goal. These are just cash games.”
Along with billionaires like Warren Buffett and George Soros, Rogers is considered one of the largest investors in the world. His views coincide in an interview with AERA’s newsletter with Buffett, who said that “the crypto does not matter mainly” in February.