The investment guru, who said Bitcoin was in a bubble as early as 2017, recently speculated that all cryptomonies will eventually disappear.
In an interview with AERA dot’s Asahi publication on June 19, investor Jim Rogers said that crypto currencies, including Bitcoin (BTC), “will eventually go into decline and everything will go to zero.
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“Those who use crypto coins think they are smarter than their governments,” Rogers told AERA dot. “In fact, I think they’re right. But their governments have something that the crypto coin people don’t have. It’s weapons. The reason I think the crypto currencies will eventually disappear is that they are not based on the armed force of government power.
There has been some unproven correlation between the rise and fall of crypto currency prices and governments acting more authoritarian. When Donald Trump ordered the forced dispersal of peaceful protesters near the White House grounds on June 1, the price of Bitcoin rose by more than 8%.
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Kryptomonas is just “a gamble”
Cointelegraph reported in November 2017 that Rogers said BTC “looks and smells” like a bubble. This was before the crypt currency reached its all-time high of over USD 20,000 in December 2017.
“[…] cryptomonies didn’t even exist a few years ago, but in the blink of an eye they became 100 and 1000 times more valuable. This is a transparent bubble and I don’t know the right price. Virtual currency is not an investment objective. It’s just a gamble.”
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Along with billionaires like Warren Buffett and George Soros, Rogers is considered one of the world’s largest investors. His views in the AERA dot interview echo those of Buffett, who said that “crypto currencies are basically worthless” in February.