Renowned investor Jim Rogers, who founded the Quantum Fund together with billionaire George Soros, now regrets not having bought Bitcoin. However, he remains concerned that governments can ban Bitcoin once it becomes a viable currency.
Jim Rogers’ Bitcoin Regret
Jim Rogers said in an interview with Real Vision this week that he wished he had bought bitcoin years ago. Rogers is the former business partner of George Soros and a co-founder of the Quantum Fund and Soros Fund Management.
He believes bonds are in a bubble and expects gold and silver prices to skyrocket. As for Bitcoin, he said:
I wish I had bought bitcoin. I will point out that many cryptocurrencies have already disappeared and gone to zero. We all hear about Bitcoin. We don’t hear from the dozen that no longer exist.
The price of Bitcoin has increased 54% this year, 612% since the beginning of last year and 1,152% since the beginning of 2019. BTC price, which has broken past highs several times this year, is currently at $ 46,577 as of writing with a market cap of $ 871 billion, based on data from Markets.Bitcoin.com.
BTC price chart over several years. Source: Markets.Bitcoin.com
Jim Rogers warns the government against banning cryptocurrencies
However, Rogers still believes that governments will not allow cryptocurrency to flourish if it is successful as a currency. Last June, news.Bitcoin.com reported that the veteran investor had warned that governments will stop cryptocurrency while discussing the use of Bitcoin as money.
During his interview with Real Vision earlier this week, he was quoted as saying:
If Bitcoin ever becomes a viable currency instead of a trading vehicle, they can ban it. Governments don’t want to lose control. They like their monopoly. Do you think they’ll say, “OK, this is US dollars and you’re on the computer, but if you want to use something else you can do that”? Actually, at no point in history has this been my experience with governments.
Well-known television personality and Bitcoin proponent Max Keizer has predicted that when BTC price hits $ 50,000, Rogers will bet all-in on Bitcoin, as will Shark Tank’s Mark Cuban and gold bug Peter Schiff.
While Rogers now regrets his decision not to invest in Bitcoin earlier, Schiff still insists that the value of the cryptocurrency could drop to zero. Even so, he has admitted that it can reach $ 100,000 as well. Rogers is also not confident about the US dollar. In September last year, he predicted the end of dollar dominance.
Rogers isn’t the only person to warn that governments are stopping cryptocurrency. Harvard professor Kenneth Rogoff has repeatedly said that governments and central banks will never allow Bitcoin to go mainstream, and he believes they will win. Dan Nathan, founder of Risk Reversal Advisors, said the U.S. government will no longer allow companies like Elon Musk’s Tesla to replace the dollars on their balance sheets with Bitcoin.
Another investor who has strongly warned that regulators are taking a heavy toll on cryptocurrencies is Shark Tank star Kevin O’Leary, aka Mr. Wonderful. “Grown men will cry when that happens. You will never experience such a loss of capital in your life. It’s going to be brutal, ”he said. However, after the approval of two Bitcoin Exchange Traded Funds (ETFs) in Canada, he changed his mind. O’Leary is now a Bitcoin investor and believes that cryptocurrencies will stay here.
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