THELOGICALINDIAN - Veteran broker Jim Rogers who cofounded the Quantum Fund with billionaire broker George Soros is still afraid about governments outlawing bitcoin and added cryptocurrencies If cryptocurrencies become acknowledged best governments will outlaw them because they dont appetite to lose their cartel he said
Jim Rogers Still Worried About Government Banning Bitcoin
Renowned broker and George Soros’ above business accomplice who co-founded the Quantum Fund and Soros Fund Management, Jim Rogers, still believes that the government can ban bitcoin and added cryptocurrencies.
Noting that he “never bought or awash any cryptocurrencies,” Rogers told Kitco News’ Michelle Makori aftermost week:
“Every government in the apple is alive on computer money now, including the U.S. The Chinese are there already. I cannot brainstorm that governments are activity to say ‘ok, this is our crypto money, or you can use their crypto money.’ That’s not the way governments work, historically,” he opined.
Rogers added: “Money is activity to be on the computer. It already is in China. In China, you can’t booty a auto with money. You accept to accept the money on your phone, you can’t alike buy ice cream. So it’s happening, but I agnosticism if it’s activity to be addition else’s money. History shows it will be government money.”
He believes that the better blackmail to bitcoin is government adjustment “if it becomes successful,” but not “as continued as it charcoal a trading vehicle.”
The Quantum Fund co-founder added noted:
Commenting on the Federal Reserve Chairman Jerome Powell comparing bitcoin to gold in agreement of how they are both acclimated for speculation, Rogers agreed that bodies are application both as trading vehicles. However, he added that history would announce that argent and gold would apparently accept a bigger approaching than cryptocurrencies because they are not aggravating to attempt with the dollar or added absolute currencies.
Rogers is not the alone one who has warned about governments dispatch in and outlawing cryptocurrencies. Others accommodate Bridgewater Associates architect Ray Dalio, The Big Short’s Michael Burry, and Ron Paul.
However, abounding bodies additionally said that governments cannot outlaw bitcoin. A abettor with the U.S. Securities and Exchange Commission (SEC), Hester Peirce, afresh said that governments would be “foolish” to try to ban bitcoin and that banning it would be like shutting bottomward the internet. In addition, she said that “it’s actual difficult to ban article that’s about a peer-to-peer technology.”
Do you anticipate Jim Rogers’ abhorrence about the government banning bitcoin is unfounded? Let us apperceive in the comments area below.
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